PSD2: National Governments and Bodies Have The Final Say

PSD2 is driven top-down by the European Commission and the European Banking Authority (EBA). But it is built bottom-up by the banks and other service providers themselves. And the Commission/EBA don't regulate PSD2 providers. It's the "national competent authorities." In other words, it's the regulator in each country. Unlike the UK, where the CMA9 regulations are defining what the banks must do, PSD2 leaves things entirely in the hands of the banks and related businesses. This creates an immediate problem. There might only be one set of regulatory technical standards for PSD2, but there are more than 30 [...]

By | 2018-04-18T12:22:29+00:00 April 9th, 2018|Fintech, News|0 Comments

PSD2 Active API Performance Monitoring: You Can’t Do That From Here

API performance monitoring is part of managing, and here at APImetrics our mantra is: You have to manage your APIs. And if you are relying purely on passive monitoring of API gateways, you are not monitoring your APIs because you don't actually know how your APIs are really behaving from the end-user perspective. Open Banking is a cluster of innovations driven by the new technologies and pent-up customer demand for truly 21st century banking. PSD2 is a EU directive mandating that banks and financial institutions across the European Single Market allow access to their systems for the purposes of [...]

By | 2018-03-13T18:17:06+00:00 March 6th, 2018|Fintech, News, Opinion|0 Comments

Open Banking APIs: Working Together To Make It Work

In reading up on Open Banking, we recently came across an interesting letter from Olivier Guersent, the European Commission's Director‑General for Financial Stability, Financial Services and Capital Markets Union to Andrea Enria, the Chairperson of the European Banking Authority (EBA). The fact that such personages are exchanging letters about APIs tells us something about their perceived importance in the present and future worlds of open banking. And, tellingly, M. Guersent's views about how to manage APIs are aligned with the recommendations of best practices that we at APImetrics have made. The letter states: It is not possible for EBA [...]

By | 2018-03-15T07:13:20+00:00 March 2nd, 2018|Fintech, News, Opinion|0 Comments

New: Monitoring the Untestable – A White Paper from APImetrics

APImetrics has just published Monitoring the Untestable, a new white paper that focuses on the Catch-22* at the heart of PSD2 and open banking: if you don’t actively monitor your production environment with synthetic transactions, you have no idea whether your bank’s APIs are truly compliant at any given moment. But banks are often reluctant (with good reason) to allow testing in the live environment. As we've said, to manage your APIs, you must monitor them. But if you are only passively monitoring your APIs, you are not monitoring them – which means you are not managing them. So, it's important to actively monitor [...]

The (Open Banking) Revolution Will Be Blogged.

BBC Business is a fairly obscure slot on the BBC's news channel, but the BBC News website is one of the leading news sites in the world and there was a story on the launch of PSD2 and Open Banking on the front page on Saturday. Of course, it takes about three-quarters of the article before it is admitted that Open Banking is an EU initiative – but this is the BBC we are talking about. God forbid they ever suggest that the EU ever did anything for us! So, as I said last week, PSD2 and Open Banking are [...]

By | 2018-01-16T09:22:02+00:00 January 16th, 2018|API Update, News|0 Comments

PSD2 Eve: Tomorrow It Goes Live. Are You Ready?

Happy PSD2 Eve! Yes, ladies and gentlemen, the time has come: It's going live throughout the European Single Market on Saturday, 13 January 2018. So, what happens if you realize on Monday morning that the passive monitoring or homemade cURL scripts you have implemented simply isn't enough? What if you find you're unable to understand how the open banking APIs your organization depends are really behaving? Here at APImetrics, we offer the industry's state-of-the-art active API performance and quality monitoring solution. Just reach out to us if there is any way we can help you with your APIs. To find [...]

By | 2018-01-12T03:57:44+00:00 January 12th, 2018|API Update, News|0 Comments

Rankings for Business Critical APIs

Every day, APImetrics run hundreds of thousands of API calls against some of the leading APIs in use. They're the APIs you may depend on, but you don't have a clear Service Level Agreement or Commitment. Using our Cloud API Service Consistency scoring system, we're launching the first part of a new service – providing weekly and monthly reports on the quality of leading APIs in a variety of sectors. Currently, these sectors include: Corporate Infrastructure APIs – cloud storage, office programs and more Developer Products – application tools Social Media – Facebook and more Search APIs – comparisons [...]

By | 2017-12-01T08:21:35+00:00 November 30th, 2017|Feature updates, News|0 Comments

Zen and the Art of API Monitoring

This week I spoke at the APIDays Banking Event in Berlin. The topic of my talk was a riff on the title of Robert Persig's 1974 classic, Zen and the Art of Motorcycle Maintenance. If you haven't read it, like many classics it's not always an easy read. It's a novelized discourse on the nature of what is 'good' - a topic which drives the protagonist mad. We've felt the same way about APIs - there are so many places you can monitor, and ways you can monitor, and data that monitoring delivers, it becomes almost impossible [...]

By | 2017-11-10T04:16:36+00:00 November 9th, 2017|Fintech, News|0 Comments

Chase and Expensify: No, You Can’t Expense It (For Now)

If you're a customer of Chase trying to upload your expenses using Expensify, take a breather. Go get a latte. On the afternoon of May 18 (PDT), visitors to the Expensify website read this announcement: Effective May 17, 2017, Chase began rejecting all of our connections to their Direct Connect service without warning. As a result, though our end of the connection has not changed, we are not able to import any transactions for any type of Chase card until the blockage is removed from Chase's side. Expensify added: “This is not due to any security concerns.” So, it’s not [...]

By | 2018-04-09T17:02:29+00:00 May 18th, 2017|Fintech, News, Travel|2 Comments