In this episode, we discuss open banking and APIs. The concept of open banking has been around since 2013 when the European Commission proposed an amendment to the payment services directive of 2007, in what has become known as payment services directive 2, or PSD2. Among the directives contained in PSD2 was the opening of bank data to third parties. This was aimed at creating a more integrated European payments market. In fact, on October 8, 2015 when PSD2 was officially adopted by the European Parliament, Commissioner Jonathan Hill, responsible for Financial Stability, stated that "This legislation is a step towards a digital single market; it will benefit consumers and businesses, and help the economy grow." In the same forum, Commissioner Margrethe Vestager noted that “The new Directive will greatly benefit European consumers by making it easier to shop online and enabling new services to enter the market to manage their bank accounts, for example to keep track of their spending on different accounts." So, we want to delve into the details of open banking and the role of APIs in its development. Joining me for this discussion is Matt McLarty. Matt is a Software Architect and a Global Leader of API Strategy at MuleSoft, a Salesforce Company. Subscribe to The Risk Experience Podcast. To learn more about Matt, check out his LinkedIn page https://www.linkedin.com/in/mattmclartybc/.