Towards the API Economy... The Payment Services Directive 2 (PSD2)

The API Economy - 

Towards new Digital Business Model.

It´s known that Industry disruption has always been driven by technology and standarization.  

  

Application programming interfaces ( APIs) are  the key "building blocks" of the new Digital Business Platform. APIs are pieces of software code that provide a "set of technical and functional specifications" to nteract with information and business systems.

 

APIs organizational’s core assets can be reused, shared, and monetized through APIs that can extend the reach of existing services or provide new revenue streams.  

APIs can be managed like a product—one built on top of a potentially complex technical footprint that includes legacy and third-party systems and data. Digital Disruption is fueled by API´s

 

Companies should commit to building a marketplace to trade and settle discrete, understandable, and valuable APIs and to establish an ecosystem of partners, integrators and consumers to enable new business and monetize data and algorithms.

A Digital Business is supported by a Technology Platform in the following five areas:

- Information Systems Platform 

  Back Office and Operational Information System. 

- Customer Platform 

  Portals, Multichannel and Customer Apps.

- Data an Analytics Platform

  Information Management and Analytical Tools 

- Internet of Things (IoT) Platform

  Connects physical assets for monitoring, control   

  and monetization. 

- Ecosystems Platform

  Supports the creation and connection to external 

  ecosystems, marketplaces and communities 

  including API management, control and security.