We checked how this technology is applied and what the future holds for it.
FM Studio
Every serious progress requires changes. While institutional and retail Forex brokerages, startups, Fintech companies and a number of other financial entities know that fact very well, the traditional banks have maintained a very conservative attitude towards changes in recent years.
Banks at this point have access to the largest amount of financial data, but on the other hand they play the role of the most tightly closed institutions in the whole industry. Access to customers’ banking data is highly desirable for a number of organizations and software developers. And in most cases by the customer himself. This explains, in a simple way, why the fintech startups that lead cooperation with banks and which allow this type of access to customer information are evolving so rapidly.
This year should be a turning point in which the entire financial industry will undergo significant changes. All thanks to the expansion of data access outside the closed sector. This will be possible due to the banking API.
What is banking API?
In the simplest terms, banking API is a tool that allows access to the financial data of the user, with his consent. The whole process can be viewed as the 'Login with Facebook', but with respect to the reality and complexity of financial services.
Of course, the system in the case of banking API is different, due to the more advanced financial security measures. Nowadays, however, we do not need to go through the registration process on a particular website – the browser can pull the data from previous sessions. Once the client authenticates, an application gets read-only access to registration, account and transactional data.
While the topic seems to be very exiting for the average user, the market is still underdeveloped and premature due to the small number of companies operating in this new industry and the lack of an adequate legal framework. Having said that, banking APIs is available in many major financial centers and in larger countries.
Who can use banking API, and where?
The technology of data aggregation can help retail and institutional brokers, social lenders and fintech companies in a number of different ways. Firstly, it is just another way to optimize the registration of a trader and reduce the stress on the compliance department. Regulated forex brokers are required to complete KYC, and often dry brokers operate without branches, resulting in a time and energy consuming on-boarding process. A potential trader has to make a copy of his ID and utility bills, which can often be a show stopper. With banking API, a broker can identify a trader simply by requesting that he authenticate using an internet banking login.
After the trader’s authorization, the brokerage receives access to his account and transaction data which can be extremely important in the further lead assignation process. Information from other brokerages allows the evaluation of the experience and profitability of potential customers.
Want to learn more about the usage of banking API, its legal status and implementation in order to improve the functioning of financial services? A detailed article on this topic can be found inside our Industry Report for the first quarter of 2016.
Every serious progress requires changes. While institutional and retail Forex brokerages, startups, Fintech companies and a number of other financial entities know that fact very well, the traditional banks have maintained a very conservative attitude towards changes in recent years.
Banks at this point have access to the largest amount of financial data, but on the other hand they play the role of the most tightly closed institutions in the whole industry. Access to customers’ banking data is highly desirable for a number of organizations and software developers. And in most cases by the customer himself. This explains, in a simple way, why the fintech startups that lead cooperation with banks and which allow this type of access to customer information are evolving so rapidly.
This year should be a turning point in which the entire financial industry will undergo significant changes. All thanks to the expansion of data access outside the closed sector. This will be possible due to the banking API.
What is banking API?
In the simplest terms, banking API is a tool that allows access to the financial data of the user, with his consent. The whole process can be viewed as the 'Login with Facebook', but with respect to the reality and complexity of financial services.
Of course, the system in the case of banking API is different, due to the more advanced financial security measures. Nowadays, however, we do not need to go through the registration process on a particular website – the browser can pull the data from previous sessions. Once the client authenticates, an application gets read-only access to registration, account and transactional data.
While the topic seems to be very exiting for the average user, the market is still underdeveloped and premature due to the small number of companies operating in this new industry and the lack of an adequate legal framework. Having said that, banking APIs is available in many major financial centers and in larger countries.
Who can use banking API, and where?
The technology of data aggregation can help retail and institutional brokers, social lenders and fintech companies in a number of different ways. Firstly, it is just another way to optimize the registration of a trader and reduce the stress on the compliance department. Regulated forex brokers are required to complete KYC, and often dry brokers operate without branches, resulting in a time and energy consuming on-boarding process. A potential trader has to make a copy of his ID and utility bills, which can often be a show stopper. With banking API, a broker can identify a trader simply by requesting that he authenticate using an internet banking login.
After the trader’s authorization, the brokerage receives access to his account and transaction data which can be extremely important in the further lead assignation process. Information from other brokerages allows the evaluation of the experience and profitability of potential customers.
Want to learn more about the usage of banking API, its legal status and implementation in order to improve the functioning of financial services? A detailed article on this topic can be found inside our Industry Report for the first quarter of 2016.
Konstantin has been working in the retail FX industry for over 3 years. In 2014 he was occupying a position of the CMO Deputy in one of the leading Forex brokers. Even though Konstantin is a marketing expert, his passion has always been in the technology and projects. This is why later in 2015 Konstantin has switched the industry and starting working as a Head of Marketing at Kontomatik, a leading banking API provider. Konstantin will be covering the updates of banking API for Finance Magnates from the angle of technology, legislation and emerging markets expansion.
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Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
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At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
