Fintech & Innovation

Open Finance
Innovation through API standards: Part 2

How can you create globally standardised APIs for scale?
Explore the essentials of open banking and finance with Hakan Eroglu. Learn about API standards, global standardisation, and how to innovate in the digital finance landscape. 
The number of open banking Application Programming Interface (API) calls is forecast to grow from 102 billion in 2023 to 580 billion in 2027. 
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Online Course


30 mins

Video duration




On Completion

Badge of completion

With this online course, you will:
  • Navigate the distinctions between open banking and open finance.
  • Delve into global standardisation efforts and their impacts.
  • Master the building blocks of robust and performing API standards.
  • Leverage developer portals for innovation in financial services.
  • Implement effective governance and lifecycle management for APIs.
  • Enhance customer experiences through strategic API usage.
  • Ensure compliance with privacy and security standards in open finance.


API Integration

Strategic Planning


Data Privacy and Security

Course Lessons

The Strategic Role of APIs in Digital Transformation

Dive into the essential differences between open banking, which focuses on sharing banking data and initiating payments via APIs, and open finance, a broader concept that includes a wider array of financial services like investments and insurance. This chapter sets the stage for understanding how these frameworks drive innovation and user empowerment in the digital finance landscape.

Deciphering Open Banking and Open Finance

In this chapter we looked into how different jurisdictions approach the standardisation of open banking and finance, examining the balance between regulatory mandates and industry-led initiatives for interoperability.

Global standardisation of Open Banking & Open Finance

This chapter uncovered the critical components necessary for creating effective API standards, including licensing, privacy, operational performance, and the importance of field-level interpretation.

Empowering Innovation through Developer Portals

In this chapter, we learned about the significance of developer portals in providing documentation, testing environments, and support to facilitate the development of financial applications.

Crafting Robust and High-Performing API Standards

This chapter highlighted the importance of API governance frameworks and lifecycle management in maintaining high standards of security, compliance, and continuous improvement.

Meet your instructor - Hakan Eroglu

Advisor – Open Finance, Payments, and Digital Currencies at the Bank for International Settlements (BIS) Innovation Hub

Business Transformation Leader with a strong technical background (ex- Mastercard, ex-Accenture, ex-Infosys) – leading large teams, Payments Expert, Public Speaker, Thought Leader, Trusted Advisor to C-suite in Open Ecosystems (Open Banking, Finance and Data) and Digital Payments (A2A/RTP, QR, card, CBDC, crypto currency systems)

More than 14 years of experiences in technology implementation, solution architecture design, product management and strategy design and execution in complex international and multi-stakeholder environments (central banks, fintechs, banks, associations).