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Open APIs as a Platform For a More Sustainable Economy

Code. © Markus Spiske on Unsplash
Code. © Markus Spiske on Unsplash

The omnipresent COVID 19 crisis makes it all too easy to forget: Once the world has overcome the pandemic, it will have to face an even greater challenge – climate change. Companies from small to large are already working diligently to have suitable solutions ready when the economy starts buzzing again.

Even startups are already involved in the fight against climate change. What they can do to achieve ESG goals (short for „Environment, Social & Corporate Governance“) was demonstrated by some of them at the Open API Hackathon of Raiffeisen Bank International (RBI) a few weeks ago.

„Green Rank“, the winner of the Hackathon, uses Open API and numerous data sources to create an ESG ranking for banks. The runner-up „Eco stat“ in turn used Open API to build a visualization of CO2 emissions that companies produce. Another noteworthy project is Greensoon, which uses the PSD2 Transaction API to generate mandatory EU taxonomy reports.

Sustainability driven by Open API

These examples show how powerful Open APIs can be. With the help of new technologies and a wide variety of data, it is possible to extract valuable information that can be used to address major challenges such as the carbon footprint, greenwashing or the misuse of the circular economy.

© RBI

But the hackathon is only the beginning. The hackers and startups were the first to try out RBI’s new API Marketplace. It features PSD2 APIs as well as Premium (non-regulatory) APIs across the RBI’s banks in CEE countries. The Marketplace acts as a bridge between the bank and new potential partner and serves as a single point of access for all market players who want to join the fast-growing RBI ecosystem. The new and improved interface offers detailed descriptions about RBI’s API Products and enables immediate access to the sandboxes where developers can test solutions in a safe experimental environment.

RBI API Marketplace is live

RBI’s APIs are ready for you – check out the Marketplace and leverage the data these APIs provide. If you want to know more about the Marketplace, take part in RBI’s online event Open API Day 2020, which will take place on 10th of December. Except the deep dive into RBI API Marketplace, the event will bring together open banking experts from different fields – you can be looking forward to an interesting discussions between experts from regulatory landscape, different representatives from a traditional as well as challenger bank. If you are interested to know where the future of open banking is heading, what is the RBI’s approach and how to leverage its open banking capabilities, be part of the upcoming Open API Day 2020.

—> You are hooked? Then please register for the Open API Day 2020 here! <—

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