Digital Rails Newsletter
The latest on open APIs for financial inclusion


Digital Rails is a semi-regular newsletter created to help digital financial services providers, fintechs and start-ups keep up with the latest news, resources and events related to open APIs for financial inclusion. Please pass this newsletter on to colleagues who may be interested in subscribing. 
Digital Finance Experts Open Up About Open APIs in New Video Series

This summer, the cameras were rolling as CGAP sat down with leading digital finance API builders to get their perspectives on the possibilities, benefits and challenges associated with open APIs. In these short videos (3-7 minutes), the experts explain why some financial services providers are opening APIs, offer their number one piece of advice for companies that are just starting their own API journeys, and more. Check out the videos below.

Why Has Your Business Pursued an Open API Strategy?

Learn why some financial services providers in emerging markets see open APIs as a way to spur innovation, grow their businesses and reach more low-income customers. Watch video >>

What's the Most Effective Way to Drive Usage of Open APIs?

Digital finance experts with experience opening APIs in several emerging markets share their top lessons on how to engage developers and drive usage. Watch video >>

What Advice Would You Give to Someone Just Starting APIs?

From getting executive buy-in to not treating APIs like a "set it and forget it" side-project, here some useful tips for providers that are just starting their API journeys. Watch video >>

How Can Open APIs Benefit Low-Income Customers?

Open APIs may have potential for businesses, but what's the connection to financial inclusion? CGAP's Greta Bull and others explain. Watch video >>

How Open APIs Fueled Eko's Growth in India

When Indian money transfer company opened APIs in 2016, it was concentrated in two cities. Now, it originates transactions across India and processes over $300 million per month. Co-founder Abhinav Sinha explains how open APIs made this possible. Watch video >>
IN CASE YOU MISSED IT

BLOG POST
Should Financial Services Providers Prioritize Open APIs?

Here are five questions that can help digital financial services providers decide whether to prioritize open APIs and, if so, which APIs to tackle first.  Read post >>

WEBINAR RECORDING
Getting Started with API Pricing

After releasing an  API pricing guide for digital financial services providers, CGAP in May hosted an interactive webinar with guests Cedric N'Guessan of MTN and Martin Janzen of Simon-Kucher & Partners.  Watch recording >>
UPDATES TO CGAP'S API RESEARCH COLLECTION

Find All CGAP's Latest API Resources in One Place

CGAP's online collection of API resources for financial services providers has been updated to make it easier to navigate. Check out step-by-step guides, case studies, videos and other tools on how to develop and implement a successful API strategy.  Explore www.cgap.org/OpenAPI >>
UPDATES TO THE OPEN APIs DASHBOARD

Open APIs Dashboard Now Includes More than 250 APIs

The CGAP API Dashboard tracks digital financial services providers' open APIs around the world. The dashboard now catalogs over 250 APIs from Africa, Asia and Latin America.   Explore the dashboard >>
Some of the latest companies to add APIs include:
NEWS FROM THE FIELD
GOOGLE CLOUD BLOG
Safaricom: Harnessing the Power of APIs to Transform Lives in Africa

Safaricom's API product development manager for M-PESA shares how a suite of open APIs has helped Safaricom open up to 4,500 partners, onboard 15,000 developers and drive new business-to-business and business-to-consumer revenue. Read article >>
EUROMONEY
Brazil's Central Bank Aims to Stimulate Competition Through Open Banking

This article looks at an announcement by Brazil's central bank that will require the country's 12 largest banks -- which together account for 86 percent of banking sector assets -- to open customer account data APIs to third parties. Read article >>
MCKINSEY
Cutting Through the Noise: How Banks Can Unlock the Potential of APIs

This article summarizes the global open banking landscape, noting that most banks are still in the development phase, with few appreciating the competitive advantage that can be gained through a more data-driven business model. Read article >>

CGAP (the Consultative Group to Assist the Poor) is a global partnership of over 30 leading organizations that seek to advance financiala inclusion. CGAP develops innovative solutions through practical research and active engagement with financial service providers, policy makers, and funders to enable approaches at scale. Housed at the World Bank, CGAP combines a pragmatic approach to responsible market development with an evidence-based advocacy platform to increase access to the financial services the poor need to improve their lives.