Nationwide: Building Trust with APIs
Like many executives in the highly regulated financial services industry, Simon Hamilton initially viewed the upcoming European Commission’s directive on payment services as another potential compliance headache.
"When I first found out about the PSD2 and open banking requirements, it was, 'Well here’s another regulatory project’,” said the chief technology officer of Nationwide Building Society. But it didn’t take long for the potential upside to become clear.
“We can also … build more trust, add to the service that we provide with customers, and also think about APIs that we can consume from others and do more to open up our IT environment and collaborate with other frims,” Hamilton said. “Open banking and PSD2 have been the catalyst for us to look really seriously at API technology.”
For more on Nationwide and PSD2, read "How PSD2 Changes the Banking Game."