APImetrics has joined forces with FinTech information source Finextra Research to offer an open access dashboard monitoring the real-time performance of open banking, the European Union’s payment service providers directive (PSD2), as well as FinTech and crypto APIs, according to a Monday (Dec. 13) press release.
The dashboard, which is housed on the Finextra website, offers a snapshot of the real-time performance of the top 30 regulated open banking brands and 36 crypto exchanges operating in the U.K.
“The Open Banking movement, by definition, cannot operate in the dark. Every developer and innovator has a shared interest in seeing how their APIs measure up in the real world to raise the collective bar of the entire ecosystem,” said David O’Neill, APImetrics CEO. “We’re excited to be partnering with Finextra to, for the first time, provide open access to financial API performance data, highlighting the resilience and health of the live solutions relied upon by millions of consumers every day.”
Finextra’s 40,000 FinTech professional members and 800,000 monthly readers can monitor all APIs on the dashboard. APImetrics ranks APIs according to quality, with the best- and worst-performing APIs in each category visible for improved transparency and accountability.
The joint effort with Finextra and APImetrics, which is based in Seattle, Washington, and operates offices in the U.K. and New Zealand, comes at a time when experts say that access to banking services is integral for U.K. residents to reach financial inclusion, PYMNTS reports.
Read more: Access to Banking Services Is Key Pillar of UK’s Financial Inclusion Agenda
According to a recent study, which highlights a financial road to recovery post-pandemic, most people in the U.K. gain access to financial services and related products via their bank. Yet, during the pandemic, more customers transitioned to digital banking methods and less frequently visited a physical bank branch, with more than 80% of U.K. adults opting for contactless payments and more than 50% using mobile or online banking, according to PYMNTS.
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