Opportunities in the Financial API Space
01 Feb 2011According to Forrester Research, the U.S. mobile banking market has experienced rapid growth in the past three years, more than doubling from 5% of online adults in 2007 to 12% in Q2 2010. By 2015, Forrester predicts that one in five US adults will be using mobile banking. Forrester attributes this to the adoption of smart phones. I would say we are in the biggest growth period for financial and payment APIs since PayPal launched its API in 2004. With this kind of growth in mobile banking, you can easily predict the need for high quality, secure, financial and payment related APIs. We will see a lot more growth, innovation and competition in the financial API space in next 4 years.