On today’s episode, Research Associate Andrew Kim interviews Joris Henson, who pulls back the curtain on Deutsche Bank’s approach to open banking, revealing valuable insights into the evolution of Application Programming Interfaces (APIs) and giving us a taste of what the future might hold for this trailblazing sector. Joris will share stories about incredibly creative approaches he’s taken, like data cocktail bars and design thinking workshops, to identify needs and generate ideas. We’ll take a closer look at the Open Finance Framework in the European Union, contrast Meta’s reception against open banking, and ponder the potential impact of generative artificial intelligence (AI) in finance. Plus, Joris busts open the proverbial black box of airline points to reveal how AI could simplify complexities and discusses product innovation at Deutsche Bank, specifically DB Smart Access. “It’s about the small and big moments of life. And our vision is that with the help of open banking and through those partnerships, we can play a role in those small and big moments in the life of our customer.” – @Joris_Hensen Key Points From This Episode: Overview of Deutsche Bank API vision evolution and open banking opportunities before and after Payment Services Directive Two (PSD2) How understanding niche products and successful partnerships accelerated open banking How Third-party data needs grew from transaction details to comprehensive finance APIs Future fintech may reduce data moats but emphasize innovative product development Open banking in Europe prioritizes consent and trust over ad-driven models How hackathons and practical demos were key in advancing open banking innovation Aggregators gain value by integrating diverse APIs in open banking evolution Life-centric products integrate finance with everyday activities like home energy Why evolving consumer consent may balance security with convenience for AI use AI financial advisors could offer tax and asset management insights affordably Investors should watch how banks adapt to open banking and leverage APIs