Financial technology services provider Fiserv has streamlined access to its core banking application programming interfaces (APIs) to expedite collaboration among financial institutions and fintechs.
Fiserv’s move will allow third-party developers to instantly access collaborative workspaces through Banking Hub, a single location for accessing the company’s banking APIs within its Developer Studio.
The financial technology services provider said that more than 500 developers from fintechs, merchants, payfacs, major brands, and system integrators have already started using a workspace to co-develop special use cases.
Banking Hub offers development teams an organised space to collaborate and manage projects with multiple workflows.
It simplifies the path for fintechs to develop, test, certify, and deploy pre-integrated apps in Fiserv financial institution clients’ marketplace AppMarket, or to embed various financial services into their customer experience.
Besides, Banking Hub features quick start guides and thorough documentation, code samples and videos to allow developers to create and validate a proof of concept at speed.
Banking Hub workspaces are designed to provide a self-service experience, said Fiserv.
Fiserv open finance and Banking Hub vice president Niranjan Ramaswamy said: “Financial institutions are pressed to grow their portfolio through tailored services, accelerate speed to market and appeal to younger generations.
“Pre-integrated fintech solutions can help address these challenges by allowing financial institutions to cost effectively address targeted strategies and growth opportunities.
“With compelling new capabilities in gig economy banking and small and mid-size business lending, for example, financial institutions can expand customer relationships while growing deposits.”
Last week, Fiserv and open finance provider Plaid agreed to enable secure and reliable data sharing via APIs for financial institutions and consumers.