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Open Banking Value Tool

What evidence do we have that open banking is really creating impactful benefits for all stakeholders across the ecosystem?

Open Banking value tool

Showing 100 success stories of 175

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Millions of open banking payments

André Rogaczewski, CEO of Netcompany, said that the company is proud to bring an innovative payment solution to millions of citizens and businesses, by uniting and innovating digital post and modern payment options on the mit.dk platform. When you receive a message on mit.dk, you must be able to respond to it immediately - even when a bill has to be paid. The platform will be at the forefront with a seamless payment experience for both sender and recipient. With Aiia as payment provider, it is ensured a strong, stable and future-proof solution with the user experience in focus.

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Over 500M funding provided

Banca Aidexa in Italy, partnering with Actico, implemented an automatic credit decision platform based on open banking and machine learning that allows SMEs to know in 20 minutes if they are financeable. The bank, aiming transparency, has also an algorithm that explains why a loan has not been granted. Their product has contributed to having a high quality customer base.

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Faster assessment of loan risk (20 minutes)

Banca Aidexa in Italy, partnering with Actico, implemented an automatic credit decision platform based on open banking and machine learning that allows SMEs to know in 20 minutes if they are financeable. The bank, aiming transparency, has also an algorithm that explains why a loan has not been granted. Their product has contributed to having a high quality customer base.

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80% reduction in the time it takes a user to connect their account

A big challenge for PokitPal was gaining access and connecting to their customer’s accounts. Previously, they were reliant on individuals entering their banking details which proved a major point of friction in the onboarding journey.  Many users didn’t have their banking details on hand when signing up, causing them to drop off right at the point of conversion. Just from changing providers to Basiq and using its Open Banking connectors they saw an 80% reduction in the time it takes a user to connect their account.

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10% of all loan applications are accepted 'straight through'

Toyota Louwman Financial Services was looking for a way to ensure an acceptance process with 'Straight Through Processing'. This means that a customer can go through the entire acceptance process digitally in one go, without acceptors and customers having to send documents back and forth. That would be a big time saver.  To achieve a switch to a digital acceptance loan/lease process, DigiAccept, a partnership was entered into with Ockto and iLoan. Two years after the ambitions were announced, 10% of all applications that go through the digital acceptance process with iLoan and Ockto are accepted 'straight through', without the intervention of the acceptor.

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Entire acceptance process digitally while 10% of loan applications are accepted

Toyota Louwman Financial Services was looking for a way to ensure an acceptance process with 'Straight Through Processing'. This means that a customer can go through the entire acceptance process digitally in one go, without acceptors and customers having to send documents back and forth. That would be a big time saver.  To achieve a switch to a digital acceptance loan/lease process, DigiAccept, a partnership was entered into with Ockto and iLoan. Two years after the ambitions were announced, 10% of all applications that go through the digital acceptance process with iLoan and Ockto are accepted 'straight through', without the intervention of the acceptor.

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Ending screen scraping for the more than 9 million end-users

Phil Suckow, vice president of innovation at $1.9 billion IncredibleBank said that ending screen scraping for the more than 9 million end-users on Jack Henry's Banno Digital Banking Platform will reset consumer expectations, create a new data security standard, and empower community and regional financial institutions to strengthen and differentiate their service on security and reliability. Leveraging the new API connections to the data exchanges through Jack Henry enables them to continue to be at the forefront in providing open financial data access to our customers.

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9 million end-users not sharing banking credentials

Phil Suckow, vice president of innovation at $1.9 billion IncredibleBank said that ending screen scraping for the more than 9 million end-users on Jack Henry's Banno Digital Banking Platform will reset consumer expectations, create a new data security standard, and empower community and regional financial institutions to strengthen and differentiate their service on security and reliability. Leveraging the new API connections to the data exchanges through Jack Henry enables them to continue to be at the forefront in providing open financial data access to our customers.

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8,600+ customers diversifying their portfolio mix

Since launching in 2021, Blossom now boasts over 8,600+ customers and has $36 million (and counting) under management. The Blossom app has already been a big hit with millennial investors, many of which care about where they’re putting their money. Users set a savings goal. Blossom posts users’ earnings daily so they can track and watch their savings grow. Plus, users can link up their bank account and set up auto-grow.

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Over 8,600+ millennial investors

Since launching in 2021, Blossom now boasts over 8,600+ customers and has $36 million (and counting) under management. The Blossom app has already been a big hit with millennial investors, many of which care about where they’re putting their money. While it’s been a surprise to the team, Blossom is thrilled to be helping all Australians diversify their investments and add alternative assets to their portfolio mix. 

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Payment contributions for home buying increase by 25%

Home-buying made easier through open banking with Nude, the savings app for first time buyers. Savers open a Nude savings or stocks and shares Lifetime ISA, boost their deposit with 25 per cent government bonuses, and receive customised savings ideas through open banking data to build their deposit and buy their home in record time. Nude uses GoCardless to move money from a saver’s bank account into their Nude Lifetime ISA. In the first three months after implementing Instant Bank Pay, Nude saw payment contributions increase by 25 per cent.

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92% reduction in development time

Christine Tran, Senior Software Engineering Manager, noted that by using APIs internally they reduced "development hours by 92%, Integration projects that used to take months now take only a few weeks." Tran notes that the time saved allowed for a greater focus on innovation projects.

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40% faster response time to prospects

Marketing teams now have access to a 360-degree view of the customer so they can pin-point client needs and personalize direct marketing campaigns to ensure greater relevancy. Moreover, sales reps now receive access to prospective customer inquiries 40% faster than before implementing MuleSoft – driving a better experience for prospective customers

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89+ APIs built in 12 months

An increase in usage of open banking connections offers a greater choice of products to consumers, and more convenient digital methods of managing finances

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50% fewer APIs improving time-to-market

Atom Bank builds a fully mobile experience using 50% fewer APIs than its previous integration solution. With a focus on speed-to-market, the bank’s previous approach to technology was to "buy over build." Before MuleSoft, they utilized tightly coupled, point-to-point integrations to connect their systems, which inhibited their ability to compose new innovations.

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API development cycle from 1 month to 1 day

Atom embraced MuleSoft’s Anypoint Platform™ and API-led approach to replace their ESB and shift towards an agile, scalable operating model. With MuleSoft, Atom Bank now deploys half the number of APIs as compared to the number they had to develop on their incumbent integration solution. In addition, with MuleSoft, every piece of integration is a reusable asset. Their monthly API development cycle has been shortened from one month to one day, enabling Atom Bank to innovate at speed.

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24 minute average onboarding time

Greg Beltzer, Head of Technology, RBC Wealth Management, said that their #1 priority is to meet customers where they are and deliver world-class wealth management services, thus the RBC team turned to building reusable APIs — such as the Accounts API, Risk API, and Documents API — to unlock and integrate siloed data in LexisNexis, the bank’s client database, and other on-premises, legacy, and cloud systems. With these APIs, the team was able to completely digitize the onboarding and account opening process.

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3X faster project delivery time

The RBC team was also able to create and maintain reusable APIs to launch key digital initiatives, such as the client service portal, 3x faster than before.

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50% lower maintenance costs

Because the RBC team simplified access to back-end systems via APIs, they now spend 50% less resources on maintenance costs. 

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22 minutes for home loan decision

The company was able to launch an innovative home loan experience, where customers can receive full home loan approval in as little as 22 minutes, compared to the 22-day industry average.  

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21 integrated technology systems

For Tic:Toc, delivering with a seamless, instant, home loan application experience required: Integrating core system data from e-form applications, valuation and verification services, the credit bureau, scorecards, and more. A total of 21 systems. Using APIs, Tic:Toc drastically reduced the amount of information that customers have to provide and automated previously manual tasks.

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25% of insights have resulted in action from customers

To make it easier for people to manage their money, NatWest partnered with Tink to launch a brand new Spending feature in their Mobile app. This gives users personalised insights into their spending. The company has seen situations where the Spending feature makes a real difference in people’s lives while people are taking action, themselves, to budget and set aside money.

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+65% customers benefiting from real risk profiles

Monet, a payroll credit firm, is able to access customers' transactional history through Belvo, thus, providing +65% credits to its users based on reliable and real risk profiles.

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60% savings in their services cost

Today Melo offers its services in a functional and optimized way for SMEs. Thanks to having Belvo as a technological ally, the company manages to extract fiscal and financial information in a simple and efficient way, which allows them to continue offering their services without any setbacks.

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2% increase in the granting loans rate

Initially, the company's product had a low success rate for granting loans, since the process for analyzing its financial information was slow, generating greater mistrust if the loan application was not early approved. Since their connection with Belvo, Juancho is able to make risky decisions with more ease and build trust with its clients, generating an increase of 2% in the granting loans rate.

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From Lead to Order in less than 3 minutes vs. 5 working days average

For maximum customer convenience, Justlease wanted to ensure that everything could be submitted in one session, so they started working with Ockto. Stijn Claessens, Sales Manager of Justleas, said: “To put it concretely: we go from lead to order in 2 minutes, 41 seconds. So that’s from a lease request on the website to a signed contract. At the average leasing company, we’d be looking at five working days. And what’s more, we process more files with fewer employees.”

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75% of all loan applications are processed within 15 minutes or less

Since first integrating with BUD, TotallyMoney has supercharged affordability and eligibility assessments for pre-approved loans by taking into account more comprehensive and precise datasets, enabling them to ensure 75% of all loan applications are processed within 15 minutes or less (versus 80% of applications processed in 60 minutes or less with credit bureau data alone.).

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70% clients verify their identity via open banking

CreamFinance found that, for most services, the average time to complete the entire loan application process from start to finish containing uploading documents can even take nearly 2 hours. For Kontomatik, which is paperless and a completely online process, it’s around 10 minutes. Since the open banking method is around 90% faster, the difference is significant. In the choice between manual document uploading and using completely online services, approximately 70% of CreamFinance customers choose open banking. 

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2.5% savings per payment

Partnering with TrueLayer, ANNA adopted the Data API and Payment API. As a result, ANNA customers no longer need to use physical payment terminals, bank cards, or intermediaries for payments - significantly reducing transaction costs and speeding up transfers.

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+10% customer transactions

ANNA realised many of their customers had multiple bank accounts and were struggling to get a complete overview of their expenses. This made things like processing invoices and calculating tax difficult. Now, business owners can get paid immediately using their ANNA app rather than going back to their desk, sending an invoice, and then chasing afterward.

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1 in 4 transactions use TrueLayer Payments

Citizen Ticket processed a high volume of transactions, which made chargebacks an inherent risk. Relying on merchant banks could be difficult, resulting in complicated back-office processes.  They integrated TrueLayer Payments to allow customers to pay for tickets directly from their bank accounts. 

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40% savings in merchant banking fees

Citizen Ticket processed a high volume of transactions, which made chargebacks an inherent risk. Working with TrueLayer has had a major impact on the way Citizen Ticket processes payments. Chargebacks have declined, and the company has cut back on costly payment processing fees.

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5-star average customer rating

Cazoo already offers card payments and financing options for used car purchases. “One huge pain point for us and our customers was card transaction limits, as a car retail purchase obviously means a high average order value,” says Cazoo’s Product Manager, Sitong Wei. “Open banking payments offered a solution to this.” The payouts experience has proved such a hit with customers.

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50%+ of customers top up their accounts

With TrueLayer Payments, HeyTrade can give their customers an instant trading experience. That makes funding a trade much faster and much more intuitive, resulting in a much better experience for HeyTrade’s customers. And investors aren’t just using TrueLayer Payments more often — they’re also trusting it for higher-value trades. 

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5x growth in instant payment volume

Penfold is a challenger pension company. After integrating with TrueLayer, Penfold saw an immediate improvement in its customer experience, allowing customers to contribute to their pensions in a few short steps. The authorisation process was painless, and Penfold can immediately reconcile payments, heavily reducing back office work.

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Less than 2 weeks took integration process

Penfold is a challenger pension company. The team began using TrueLayer Payments to accept account deposits. The integration process was straightforward and took less than two weeks.

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200% reduction in processing fees (variable recurring payments)

The Credit Thing helps people that are new to the UK or to borrowing get access to credit. In 2022, they became the first fintech in the world to enable variable recurring payments (VRPs) for customers. The repayment option gives the company's customers complete control of their regular payments.

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#1 financial app, 4 weeks after launch

Rocker is all about helping people manage their finances in an easy, engaging way. Most new customers use ‘Rocker Connect’ to add their cards and bank accounts to see all their finances in one place.

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Neobank created in 6 months

The Capital Bank of Jordan had a vision to create a groundbreaking digital-only neobank to drive innovation in the market and tackle financial inclusion in the region. Codebase Technologies worked closely with the blink team to design a digital neobank proposition that would break boundaries and redefine what it means to be a modern bank for today’s customers. Codebase Technologies was able to bring blink to market in just 6 months. The blink app has already reached the top of the most downloaded apps in Jordan.

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50% decrease in fraudulent returns

Plaid helps Varo Bank reduce unauthorized returns with account ownership checks. As a result, Varo Bank has seen more than a 50% decrease in fraudulent returns which helps it save money by preventing larger downstream return related costs.

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60% more engaged customers

Varo Bank customers who link an account with Plaid demonstrate 60% greater engagement than those who don’t use Plaid. One of the critical feature sets was Plaid Exchange, a streamlined API and Digital Connectivity solution that allows Varo Bank’s customers to connect to a network of more than 7,000 fintech apps and services.

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24 minute average onboarding time

With reusable APIs — such as the Accounts API, Risk API, and Documents API — the team at RBC was able to completely digitize the onboarding and account opening process, creating a benefit to customers by shortening the time they spend on their onboarding process.

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Over 8.3m of the bank’s customers have used the Spending feature

To make it easier for people to manage their money, NatWest partnered with Tink to launch a brand new Spending feature in their Mobile app. This gives users personalised insights into their spending. The company has seen situations where the Spending feature makes a real difference in people’s lives while people are taking action, themselves, to budget and set aside money.

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30% growth in credit loan customers

Credit approval was extended to an additional 30% of applicants who did not have a credit history, which enabled the fintech Aplazo to build a stronger customer base.

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+65% secure credentials sharing

+65% users of Monet, a payroll credit firm, now share their banking credentials in a secure and transparent way in order for their identity and financial information to be verified, thus, creating reliable and real risk profiles.

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80% savings in financial expenses

Melo is a fintech that allows individuals and small and medium-sized businesses (SMEs) to collect, pay and finance all invoices in one place. Thanks to its application, its users save up to 80% in financial expenses and can save up to 45% in administrative time.

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45% reduction in administrative time

Melo is a fintech that allows individuals and small and medium-sized businesses (SMEs) to collect, pay and finance all invoices in one place. Thanks to its application, its users save up to 80% in financial expenses and can save up to 45% in administrative time.

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Millions of open banking payments of digital post users

André Rogaczewski, CEO of Netcompany, said that the company is proud to bring an innovative payment solution to millions of citizens and businesses, by uniting and innovating digital post and modern payment options on the mit.dk platform. When you receive a message on mit.dk, you must be able to respond to it immediately - even when a bill has to be paid. The platform will be at the forefront with a seamless payment experience for both sender and recipient. With Aiia as payment provider, it is ensured a strong, stable and future-proof solution with the user experience in focus.

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Open banking method 90% faster than traditional methods

For Kontomatik, which is a paperless and a completely online process, the average time for its loan granting customers using its  open banking method is around 90% faster.

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96% decrease in chargebacks

Citizen Ticket processed a high volume of transactions, which made chargebacks an inherent risk. Relying on merchant banks could be difficult, resulting in complicated back-office processes.  They integrated TrueLayer Payments to allow customers to pay for tickets directly from their bank accounts. 

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50%+ of customers top up their accounts

With TrueLayer Payments, HeyTrade can give their customers an instant trading experience. That makes funding a trade much faster and much more intuitive, resulting in a much better experience for HeyTrade’s customers. And investors aren’t just using TrueLayer Payments more often — they’re also trusting it for higher-value trades. 

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200% reduction in processing fees (variable recurring payments)

The Credit Thing helps people that are new to the UK or to borrowing get access to credit. In 2022, they became the first fintech in the world to enable variable recurring payments (VRPs) for customers. The repayment option gives the company's customers complete control of their regular payments.

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Ready in 3 months

Rocker is all about helping people manage their finances in an easy, engaging way. After starting integration with Tink, the Rocker app was ready to launch in just 3 months.

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More than 7,000 investments customers

With Aiia open banking payments, NORD.Investments customers are now able to top up their funds directly from NORD.Investments’ own platform. Before their new top-up solution, customers experienced unnecessary hassle in the payment journey when topping up investment accounts. It simply took extra time to go to the online bank to set up a manual bank transfer, but with the new open banking solution, they have quickly been able to build a top-up solution directly in their own service.

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Hassle-free top-up payments in the payment journey of 7000 investment accounts

With Aiia open banking payments, NORD.Investments customers are now able to top up their funds directly from NORD.Investments’ own platform. Before their new top-up solution, customers experienced unnecessary hassle in the payment journey when topping up investment accounts. It simply took extra time to go to the online bank to set up a manual bank transfer, but with the new open banking solution, they have quickly been able to build a top-up solution directly in their own service.

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Access to an open API network of more than 3,000 digital products

By integrating into Ayoconnect's Embedded Digital Products API solution, GrabKios has access to an open API network of more than 3,000 digital products provided by Ayoconnect. For the first stage, GrabKios application users can offer digital vouchers and payments for utilities, building taxes, health insurance, Credit Card and Multifinance from 1000 service providers, insurance and financial institutions. ‍

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More than 1 million open banking payments every month

Today, the collaboration between Paytrail and Aiia has reached new heights as they’re now enabling more than one million open banking payments every month. Commenting on the great results, Paytrail’s Chief Operating Officer, Joni Rautanen, says:  “We looked for an open banking platform with a strong team and a desire to take things in a new way. In retrospect, it can be said that this was a success.”

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With over 1 million OB payments, customers have more hassle-free options at checkout.

Today, the collaboration between Paytrail and Aiia has reached new heights as they’re now enabling more than one million open banking payments every month. Commenting on the great results, Paytrail’s Chief Operating Officer, Joni Rautanen, says:  “We looked for an open banking platform with a strong team and a desire to take things in a new way. In retrospect, it can be said that this was a success.”

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Simple invoice payments for more than 77,000 SMEs

Martin Thorborg, Co-Founder and CEO of Visma Dinero said that with Mastercards’s Pay by Link feature in place, they are able to remove a massive headache for businesses, by making it as straightforward as possible to both send out an invoice and get paid in any given context. With a simple payment link, they are enabling their customers to get paid in time by using open banking payments in a flow that they trust with their bank.

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Potential to increase a 77,000 customer base

Martin Thorborg, Co-Founder and CEO of Visma Dinero said that with Mastercards’s Pay by Link feature in place, they are able to remove a massive headache for businesses, by making it as straightforward as possible to both send out an invoice and get paid in any given context. With a simple payment link, they are enabling their customers to get paid in time by using open banking payments in a flow that they trust with their bank.

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Up to 100 million calls each month

Today, the company markets its products via an extensive network of partners, such as retailers and car dealerships — and APIs play a vital role in this go-to-market strategy. The company uses Amplify API Management Platform to provide API gateways for each of the 30 countries, which support up to 100 million calls each month. As APIs took off across BNPP PF’s global businesses, the company began planning the next phase of its digital transformation: API monetization.

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90% faster onboarding for new banking clients

AVEM saw an opportunity to drive business growth by winning new banking clients for its merchant payment solutions. However, with its existing processes, it took hundreds of days of work to onboard each bank, as, in the past, AVEM relied on paper-based processes to deliver its services to merchants. AVEM saw a chance to use microservices to streamline the client onboarding journey. The use of Axway's solution got them to achieve 90% faster onboarding for new banking clients.

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10 billion API calls per year with 99.9 percent availability

To lay the foundation for loyalty-driving open banking services, to comply with the requirements of the Revised Payment Services Directive (PSD2), and to accelerate internal integration, Groupe BPCE targeted a central, secure API platform. The Axway solution has maintained 99.9 percent availability, ensuring that mission-critical services are always online 24/7, even as API call volumes grew 75 percent — from 820 million in December 2019 to 1.4 billion in May 2020

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From 6 months to 6 weeks MVP

Volker Sulzbach, Subject Matter Expert API at Commerzbank, said that in the past, batch processes and file transfers were the most common way of sharing information with their internal and external stakeholders. While those B2B integration processes had served them well for decades, they knew they would stand in the way of delivering seamless customer experiences. The implementation of the Axway solution enables innovative fintech partnerships, helping Commerzbank win customers and creating opportunities for API monetization, unlocking additional revenue stream.

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90% faster onboarding for new banking clients

AVEM saw an opportunity to drive business growth by winning new banking clients for its merchant payment solutions. However, with its existing processes, it took hundreds of days of work to onboard each bank, as, in the past, AVEM relied on paper-based processes to deliver its services to merchants. AVEM saw a chance to use microservices to streamline the client onboarding journey. The use of Axway's solution got them to achieve 90% faster onboarding for new banking clients.

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From 6 months to 6 weeks MVP

Volker Sulzbach, Subject Matter Expert API at Commerzbank, said that in the past, batch processes and file transfers were the most common way of sharing information with their internal and external stakeholders. While those B2B integration processes had served them well for decades, they knew they would stand in the way of delivering seamless customer experiences. The implementation of the Axway solution enables innovative fintech partnerships, helping Commerzbank win customers and creating opportunities for API monetization, unlocking additional revenue stream.

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$18 million saved in overdraft fees

Vola has used transaction data from Plaid to save their users more than $18 million in overdraft fees since 2017. “Prior to using Vola, users paid an average of $20.85 in NSFs each month. With Plaid, we’ve cut that number in half.” TUSHAR BAGAMANE, Founder, Vola

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99% connection rate

99% percent of Vola users who attempt to connect an outside financial account using Plaid are able to do so successfully

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30 seconds of connecting financial account

Within 30 seconds of connecting a financial account, Vola users get personalized tools to help make better financial decisions

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20% conversion rate

Because Plaid provides a smooth onboarding flow, 20% of Vola users go on to become paying customers

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53-point improvement in credit score

By enabling Vola to validate credit-building expenditures, Plaid has helped Vola users improve their credit scores by 53 points on average

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Payment collection period down from 3 to 1 month

Previously, it took three months to collect payments from 400-1000 students. Today, they only need one month to process transactions from around 5000 students. It means that UNIDAYAN students leverage an easy and convenient payment feature given by BRIAPI services.

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40,000 registered users

Launched at the end of 2018, the fintech platform Nomo closed 2019 with 40,000 registered users

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Attracted 40,000 self-employed workers in 2020

Nomo offers Sabadell customers advantageous conditions in its services and, in the same way and reciprocally, Sabadell offers direct access to Nomo through its app and the entity's website , in addition to the network of Offices.

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16.4% share of Spain freelancer market

Although Nomo operates autonomously with respect to Sabadell, the bank has a golden opportunity to sell this tool to its clients this help make the leap to an online operation that will then also be more profitable for the entity. According to data from the bank, at the end of 2019 the entity already had 16.4% share in the Spanish market for freelancers, and 13% of the margin of its commercial banking business comes from these types of clients.

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Expectations to accelerate 70% financial inclusion

As a government-owned bank, Bank BRI is dedicated to changing the lives of its customers through accelerating financial inclusion across Indonesia. With an aggressive target of 84 percent of Indonesians participating in the banking system by 2022, Bank BRI is leapfrogging fintech competition thanks to its innovative digital strategy that has APIs at its core. By the end of 2019, Bank BRI expects to have reached a 70 percent financial inclusion rate among the country's population, in part due to the adoption of the Cloud Apigee API Management Platform as the bank's digital nucleus.

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20% yoy subscribers growth

XERO is a global accounting software company that targets small businesses, accountants and bookkeepers. The 2021 results demonstrate continued strong growth and operating discipline across our business. Subscribers increased by 20% to 2.74 million

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38% yoy lifetime value growth

XERO is a global accounting software company that targets small businesses, accountants and bookkeepers. The 2021 results demonstrate continued strong growth and operating discipline across our business.  Subscriber lifetime value (LTV) grew by 38% (37% in CC) to $7.65 billion

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17% yoy revenue growth

XERO is a global accounting software company that targets small businesses, accountants and bookkeepers. The 2021 results demonstrate continued strong growth and operating discipline across our business. Monthly recurring revenue (AMRR) grew 17% to $963.6 million (18% in CC)

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1,000+ connected apps

XERO is a global accounting software company that targets small businesses, accountants and bookkeepers. We passed a milestone in the growth of our platform, with now over 1,000 connected apps in our ecosystem.

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300 bank connections

XERO is a global accounting software company that targets small businesses, accountants and bookkeepers. partnerships with banks and financial service providers also grew – Xero now supports more than 300 connections to banks and financial service providers globally.

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571% increase on account holders

In January 2019, at the start of its digital journey, Banco Original had 700,000 account holders; at the start of 2021 this had grown to 4 million, an increase of 571%

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Time-to-market less than 3 months

Sensedia supported the bank API strategy that led to the Open Banking model. New architectural model enabled quicker development of new products from 1+years to less than 3 months.

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Monthly credit agreements rose to 65,000

Over 70 fintech integrated on to Banco Topazio, with monthly credit agreements that rose from 120 to 65,000.

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1.5 million customers using open banking

Since early 2018 go-live, we've seen over 1.5 million customers use our Open Banking services. This level of usage has resulted in our APIs processing over £500m in payments to date.

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Engaging with 200 TPPs

We’re now providing our APIs to around 200 third-party providers, helping them to better serve their customers, too. 

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100,000 users, triple year-on-year

Nomo, which provides freelancers and small business owners with an all-in-one app for managing their finances, ended the year with 100,000 users, a figure nearly triple that of the previous year.

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100 million users

With Bukalapak’s extensive coverage to 100 million users and 13.5 million sellers, the collaboration will boost financial inclusion and further support to Indonesia’s digital economic growth. When nexus was first established a year ago, SC Ventures head Alex Manson told DigFin its first big experiment for the “BaaS” idea was to provide StanChart’s license and balance sheet to third parties with big consumer bases – with a strategic relationship developing with an Indonesian e-commerce company. Presumably this was Bukalapak.

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160 partners teaming up in ecosystems

The bank is teaming up in ecosystems with a variety of partners – some of which are outside the circle of usual suspects too, because they need some friction to get good results and to discover the unknown. This is how people start getting inspired. They are currently working with around 160 partners, 20 of them are investments made by the bank, others are different forms of collaboration, including short term ones.

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17 million users mark crossed

Starting from its easy money transfer service, Toss which is a full financial platform launched by Viva Republica based in South Korea, provides a wide range of financial services to individuals. Toss crossed the 17 million user mark on Sept 2020 and reached monthly average trading volume of 4,000 billion won based on Dec 2019. From its reverse auction program, customers can access real-time loan offers of numerous partnered banks, and Toss provides accurate loan pricing and limit accordingly.

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30 million users mark crossed

Kakaopay is a mobile payment and digital wallet service by Kakao based in South Korea that allows users make mobile payments and online transactions. It is incorporated into KakaoTalk, which is the most widely used mobile instant messenger in Korea. Kakaopay crossed the 30 million user mark on August 2019 and reached trading volume of 14,300 billion won in just Q1 2020. From its reverse auction program, customers can access real-time loan offers of numerous partnered banks, and Kakaopay provides accurate loan pricing and limit accordingly.

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20,000 licensed agents

Cybernetics 1 Limited provides local property’s Big Data platform to over 20,000 licensed property agents, as well as a platform of real-time mortgage data from banks in Hong Kong. Over 20,000 property agents get all available mortgage products updated by Cybernetics, and they refer the new property purchasers to different banks to apply for the best mortgage plans through Cybernetics. SCB HK and Cybernetics are collaborating on the launch of Open API Partnership under the HKMA Open API Phase 2 Framework.

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€1.0 million turnover

Already on 18 September 2019 we had reached €1m turnover and by years end more than one million payments had been initiated via APIs.

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15% of European TPPs connected

Today, more than 50 TPPs from 14 European countries representing 15% of all European TPPs are connected to Swedbank PSD2 API.

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1200+ API links to customers' environments integrating their banking services

“Many of [our 1200] APIs link to our customers to enable great integrations into their environments and really help then digitise their environments in a way that integrates with their banking services,” Executive for enterprise technology Steve Day said.

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$50 million of additional revenue

"Indonesia’s Bank BRI, for example, made capabilities such as credit scoring available via an API as a paid service, which helped it to develop a digital network of “branchless” agents across many of the country’s most remote regions. This approach has not only extended Bank BRI’s services to new users in areas with little brick-and-mortar banking, but also contributed $50 million in revenue." - Bala Kasiviswanathan, Director of Product Management, Google Cloud

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From six months down to 1 hour onboarding

"Whereas Bank BRI recently needed as much as six months to onboard new partners, its API-first approach has reduced that to as little as one hour." - Bala Kasiviswanathan, Director of Product Management, Google Cloud

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Increased financial inclusion to 60-70% from 40%

"Indonesia’s Bank BRI, for example, made capabilities such as credit scoring available via an API as a paid service, which helped it to develop a digital network of “branchless” agents across many of the country’s most remote regions. This approach has not only extended Bank BRI’s services to new users in areas with little brick-and-mortar banking, but also contributed $50 million in revenue." - Bala Kasiviswanathan, Director of Product Management, Google Cloud

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350,000 visits to the DBS Car Marketplace

Since its launch in August 2017 as Singapore’s largest direct seller-to-buyer car marketplace, in partnership with sgCarMart and Carro, DBS Car Marketplace has attracted some 350,000 unique visits. The bank has expanded its marketplace to include six established car dealers: Alpine Group; Select by Performance Premium Selection; Inchcape Pre-Owned; CarTimes; Orchard Credit; and Dickson. The marketplace also includes services from VICOM Ltd, the largest vehicle inspection and technical testing company in Singapore.

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300,000 visits to the DBS Electricity Marketplace

Customers can choose from more than 30 price plans offered by seven alternative electricity retailers on DBS Electricity Marketplace, which has registered more than 300,000 unique visits to date.