Industry Specific · Financial Institutions Groups (FIG)
APIs In Open Banking
This problem asks how APIs enable open banking and the broader Banking-as-a-Service model.
- Difficulty
- Easy
- Topic
- Industry Specific
- Subtopic
- Financial Institutions Groups (FIG)
What this question trains
This question tests your understanding of how modern banks connect with third-party providers in the financial technology ecosystem. A strong answer should explain the role of APIs as the technical link that lets outside firms access banking infrastructure in a controlled way, so new products and services can be built without exposing sensitive customer data. Interviewers ask this because open banking is increasingly important in FIG, where candidates are expected to understand how technology is changing distribution, product development, customer experience, and the competitive landscape for banks and fintechs.