Inpay outlines how APIs can transform global banking

Stan Cole speaks to the Sunday Times

The business publication Raconteur has featured Inpay in its Future of Banking report for the Sunday Times.

Stan Cole, Inpay’s Head of Financial Institutions, gave insight into how global transaction banking has become critical to the success of cross-border business, and the role APIs can play.

The article outlined that, while business-to-business application programming interfaces are moving banks closer to clients on the value chain, there are still a host of hurdles that must be overcome first.

Stan was asked for his insight alongside other industry leaders such as David Jarvis, co-founder and chief executive of Griffin, a banking-as-a-service provider, Société Générale’s head of execution platforms and UK chief digital officer Sohail Raja and Vikram Gupta, global vice president at Oracle Financial Services.

Stan said: “Banks need to accept that the future of finance is decentralised and integrate blockchain and AI into their overall digital transformation strategy.

“They can remain a central part of society by capitalising on the tremendous opportunities technology brings in terms of an incomparably higher speed and lower cost.”