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Private banks unprepared for “API economy”

Before private banks can successfully engage with what MAS refers to as the “API economy”, they face a number of challenges, including doing away with legacy systems and rewiring platforms, COOs tell Asian Private Banker. While many industry experts – including MAS’ Ravi Menon – believe that open APIs (application programming interface) are the future of innovation, COOs are less sure, harbouring reservations…

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