Erste API Bank: On Top of FinTech Waves


We provide the best banking API in the world.” – has announced Erste Bank (in the Czech Republic). Bankers and FinTech Companies with sensitive mind might consider this announcement as the “Declaration”.

  • To be specific: Erste Bank offers access to its – certain – systems for FinTech companies. (“Sandbox Netbanking API provides REST API interfaces designed for an access to bank accounts and data of the authenticated user.”)
  • This step will make Erste capable to embrace and utilize cutting-edge technology based FinTech solutions.
  • What’s more, by providing access to current account data Erste performs PSD2 (the new Payment Services Directiverequirements before the January, 2018 deadline.
  • Thus, while the majority of the banks in the EU are striving for derogation and are planning to leave preparation by 2020, innovative banks speed up and open their systems to Third Party Providers before the regulation enters into force and will gain competitive advantage this way.
  • BBVA was the first swallow in Europe which opened its PSD2 (and FinTech) compatible API market. Since then several banks, card scheme companies have been marching this way. They realized that digital bank in-house developments (moreover, strategic approaches) could successfully be accomplished by the most creative FinTech teams.
  • Innovation does not fit to day-to-day bank operation, however all banks are searching for new customer acquisition tools, put efforts to raise CEX in digital, search for e.g. more efficient scoring, CRM, document management solutions. For banks, a paradox situation has evolved where their way out of could be to develop a so called “FinTech Strategy”.
  • Luckily, we meet a growing number of partners determined to move to this direction and want to learn about the FinTech opportunities, FinTech companies, or partners who require to create an API or FinTech cooperation strategy to achieve – sound – digital renewal.

This step was definitely a smart one from Erste that might made it the first bank (?) in the CEE region which has opened its API market and has strongly moved ahead toward Bank-FinTech cooperation.



FinTechGroup: “Creating a Brave New Financial World!”



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