--- title: Open Banking Platform Strategy and the Need for APIs description: DreamFactory helps banks by providing smart and powerful API solutions that empower the open banking platform strategy that are needed. image: https://blog.dreamfactory.com/hubfs/Imported_Blog_Media/3.jpg --- [![DreamFactory logo](https://cdn.prod.website-files.com/64ed8da8a866be7a702fbae0/68d51994d3678214b54acb60_dreamfactory-navbar-logo.svg)](https://www.dreamfactory.com/) Products & Services [AI Data Gateway](https://www.dreamfactory.com/ai-data-gateway/overview) [Overview Why DreamFactory exists](https://www.dreamfactory.com/ai-data-gateway/overview) [Data Gov, Comp, Security Policy enforcement at the API layer](https://www.dreamfactory.com/ai-data-gateway/ai-data-governance) [Standard API Layer One contract for every backend](https://www.dreamfactory.com/ai-data-gateway/standard-api-layer) [API Gateway Functionality Routing, auth, rate limits, observability](https://www.dreamfactory.com/ai-data-gateway/api-gateway-functionality) [Deployment & Integration Self-hosted, cloud, hybrid](https://www.dreamfactory.com/ai-data-gateway/on-premise-deployment-and-integration) [Developer Productivity Auto-generated, never hand-coded](https://www.dreamfactory.com/ai-data-gateway/ai-development-accelerated) [AI App Architectures Patterns for RAG, agents, MCP](https://www.dreamfactory.com/ai-data-gateway/enterprise-ai-architectures) AI Data Models [AIOpenAI](https://www.dreamfactory.com/use-cases/openai) [GGoogle Gemini](https://www.dreamfactory.com/use-cases/google-gemini) [CAnthropic Claude](https://www.dreamfactory.com/use-cases/anthropic-claude-landing) [LMeta Llama](https://www.dreamfactory.com/use-cases/meta-llama) [MMistral AI](https://www.dreamfactory.com/use-cases/mistral) [CoCohere](https://www.dreamfactory.com/use-cases/cohere) Services and support [Quickstart Service Packages Expert-led Quickstarts to production](https://www.dreamfactory.com/services-and-support/quickstart-services-packages) API Management [Generate & Manage REST APIs From any database, in seconds](https://www.dreamfactory.com/api-management/generate-rest-apis) [Features Security, scripting, self-hosted & more](https://www.dreamfactory.com/api-management/features) [API Generation The complete guide to auto-generated APIs](https://blog.dreamfactory.com/a-complete-guide-to-api-generation) [API Management Concepts, tools, and best practises](https://blog.dreamfactory.com/what-is-api-management-a-brief-overview-of-api-management-concepts-and-tools?_gl=1*jl0njh*_gcl_au*MjQzMjgwMTc3LjE3ODIzMjI3MzY) Use Cases AI Use Cases [AI Data Access Secure, governed reads for your LLMs](https://www.dreamfactory.com/use-cases/ai-data-access) [MCP Server Drop-in Model Context Protocol](https://www.dreamfactory.com/use-cases/mcp-server) [Legacy Modernization Wrap mainframes with REST](https://www.dreamfactory.com/use-cases/legacy-modernization) [Data Governance Audit every call, enforce every policy](https://www.dreamfactory.com/use-cases/data-governance) [Customer Case Studies](https://www.dreamfactory.com/case-studies) [Energy Modernization](https://www.dreamfactory.com/case-studies/energy-snowflake-modernization) [Government Modernization](https://www.dreamfactory.com/case-studies/government-mainframe-oracle-modernization) [Government Business Intelligence](https://www.dreamfactory.com/case-studies/government-sql-server-bi-analyst-queries) [Manufacturing Modernization](https://www.dreamfactory.com/case-studies/steel-manufacturing-sap-erp-modernization) [Financial Services Investor Portal](https://www.dreamfactory.com/case-studies/financial-services-sql-server-investor-portal) [Non-Profit Partner Data Sharing](https://www.dreamfactory.com/case-studies/non-profit-sql-server-partner-data-sharing) [Professional Services Exec Dashboards](https://www.dreamfactory.com/case-studies/professional-services-erp-dashboards) [Education HR and External Data Sharing](https://www.dreamfactory.com/case-studies/education-student-hr-sql-server-mysql-external-data-sharing) Industries Industries #### [Healthcare HIPAA-grade APIs across EHR, claims, and labs.](https://www.dreamfactory.com/use-cases/healthcare) #### [Financial Services Portfolios, partners, and portals on one layer.](https://www.dreamfactory.com/use-cases/financial-services) #### [Government Modernize mainframes without re-platforming.](https://www.dreamfactory.com/use-cases/government) #### [Manufacturing SAP, MES, and shop-floor data, governed.](https://www.dreamfactory.com/use-cases/manufacturing) #### [Spotlight How enterprises run on DreamFactory From healthcare to energy to finance — governance baked into every endpoint. Browse case studies →](https://www.dreamfactory.com/case-studies) Connectors SQL Database [SQL SQL Server](https://www.dreamfactory.com/connectors/sql-server) [OR Oracle](https://www.dreamfactory.com/connectors/oracle) [PG PostgreSQL](https://www.dreamfactory.com/connectors/postgresql) [My MySQL](https://www.dreamfactory.com/connectors/mysql) NoSQL & Docs [Dy DynamoDB](https://www.dreamfactory.com/connectors/dynamodb) [Do DocumentDB](https://www.dreamfactory.com/connectors/azure-documentdb) [Mo MongoDB](https://www.dreamfactory.com/connectors/mongodb) [Cb CouchDB](https://www.dreamfactory.com/connectors/couch-db) Cloud Warehouses [S3 S3](https://www.dreamfactory.com/connectors/amazon-s3) [Ab Azureblob](https://www.dreamfactory.com/connectors/azure-blob) [FS FTP/SFTP](https://www.dreamfactory.com/connectors/ftp-sftp) [LS Local Storage](https://www.dreamfactory.com/connectors/local-storage) C & SaaS [Sf Salesforce](https://www.dreamfactory.com/connectors/salesforce) [API REST / SOAP](https://www.dreamfactory.com/connectors/soap-to-rest) [See all 30+ connectors](https://www.dreamfactory.com/connectors) [Blog](https://blog.dreamfactory.com/) [FREE 30 Minute Demo](https://www.dreamfactory.com/demo) [![DreamFactory logo](https://cdn.prod.website-files.com/64ed8da8a866be7a702fbae0/68d51994d3678214b54acb60_dreamfactory-navbar-logo.svg)](https://www.dreamfactory.com/) ![hamburger](https://blog.dreamfactory.com/hubfs/raw_assets/public/dreamfactory/images/megamenu/menu-hamburger.svg) ![close](https://blog.dreamfactory.com/hubfs/raw_assets/public/dreamfactory/images/megamenu/close-menu.svg) Back to main menu Products & Services Use Cases Industries Connectors [Blog](https://blog.dreamfactory.com/) [FREE 30 Minute Demo](https://www.dreamfactory.com/demo) [AI Data Gateway](https://www.dreamfactory.com/ai-data-gateway/overview) [Overview Why DreamFactory exists](https://www.dreamfactory.com/ai-data-gateway/overview) [Data Gov, Comp, Security Policy enforcement at the API layer](https://www.dreamfactory.com/ai-data-gateway/ai-data-governance) [Standard API Layer One contract for every backend](https://www.dreamfactory.com/ai-data-gateway/standard-api-layer) [API Gateway Functionality Routing, auth, rate limits, observability](https://www.dreamfactory.com/ai-data-gateway/api-gateway-functionality) [Deployment & Integration Self-hosted, cloud, hybrid](https://www.dreamfactory.com/ai-data-gateway/on-premise-deployment-and-integration) [Developer Productivity Auto-generated, never hand-coded](https://www.dreamfactory.com/ai-data-gateway/ai-development-accelerated) [AI App Architectures Patterns for RAG, agents, MCP](https://www.dreamfactory.com/ai-data-gateway/enterprise-ai-architectures) AI Data Models [AIOpenAI](https://www.dreamfactory.com/use-cases/openai) [GGoogle Gemini](https://www.dreamfactory.com/use-cases/google-gemini) [CAnthropic Claude](https://www.dreamfactory.com/use-cases/anthropic-claude-landing) [LMeta Llama](https://www.dreamfactory.com/use-cases/meta-llama) [MMistral AI](https://www.dreamfactory.com/use-cases/mistral) [CoCohere](https://www.dreamfactory.com/use-cases/cohere) Services and support [Quickstart Service Packages Expert-led Quickstarts to production](https://www.dreamfactory.com/services-and-support/quickstart-services-packages) AI Data Models [Generate & Manage REST APIs From any database, in seconds](https://www.dreamfactory.com/api-management/generate-rest-apis) [Features Security, scripting, self-hosted & more](https://www.dreamfactory.com/api-management/features) [API Generation The complete guide to auto-generated APIs](https://blog.dreamfactory.com/a-complete-guide-to-api-generation) [API Management Concepts, tools, and best practises](https://blog.dreamfactory.com/what-is-api-management-a-brief-overview-of-api-management-concepts-and-tools?_gl=1*jl0njh*_gcl_au*MjQzMjgwMTc3LjE3ODIzMjI3MzY) AI Use Cases [AI Data Access Secure, governed reads for your LLMs](https://www.dreamfactory.com/use-cases/ai-data-access) [MCP Server Drop-in Model Context Protocol](https://www.dreamfactory.com/use-cases/mcp-server) [Legacy Modernization Wrap mainframes with REST](https://www.dreamfactory.com/use-cases/legacy-modernization) [Data Governance Audit every call, enforce every policy](https://www.dreamfactory.com/use-cases/data-governance) [Customer Case Studies](https://www.dreamfactory.com/case-studies) [Energy Modernization](https://www.dreamfactory.com/case-studies/energy-snowflake-modernization) [Government Modernization](https://www.dreamfactory.com/case-studies/government-mainframe-oracle-modernization) [Government Business Intelligence](https://www.dreamfactory.com/case-studies/government-sql-server-bi-analyst-queries) [Manufacturing Modernization](https://www.dreamfactory.com/case-studies/steel-manufacturing-sap-erp-modernization) [Financial Services Investor Portal](https://www.dreamfactory.com/case-studies/financial-services-sql-server-investor-portal) [Non-Profit Partner Data Sharing](https://www.dreamfactory.com/case-studies/non-profit-sql-server-partner-data-sharing) [Professional Services Exec Dashboards](https://www.dreamfactory.com/case-studies/professional-services-erp-dashboards) [Education HR and External Data Sharing](https://www.dreamfactory.com/case-studies/education-student-hr-sql-server-mysql-external-data-sharing) Industries #### [Healthcare HIPAA-grade APIs across EHR, claims, and labs.](https://www.dreamfactory.com/use-cases/healthcare) #### [Financial Services Portfolios, partners, and portals on one layer.](https://www.dreamfactory.com/use-cases/financial-services) #### [Government Modernize mainframes without re-platforming.](https://www.dreamfactory.com/use-cases/government) #### [Manufacturing SAP, MES, and shop-floor data, governed.](https://www.dreamfactory.com/use-cases/manufacturing) SQL Database [SQL SQL Server](https://www.dreamfactory.com/connectors/sql-server) [OR Oracle](https://www.dreamfactory.com/connectors/oracle) [PG PostgreSQL](https://www.dreamfactory.com/connectors/postgresql) [My MySQL](https://www.dreamfactory.com/connectors/mysql) NoSQL & Docs [Dy DynamoDB](https://www.dreamfactory.com/connectors/dynamodb) [Do DocumentDB](https://www.dreamfactory.com/connectors/azure-documentdb) [Mo MongoDB](https://www.dreamfactory.com/connectors/mongodb) [Cb CouchDB](https://www.dreamfactory.com/connectors/couch-db) Cloud Warehouses [S3 S3](https://www.dreamfactory.com/connectors/amazon-s3) [Ab Azureblob](https://www.dreamfactory.com/connectors/azure-blob) [FS FTP/SFTP](https://www.dreamfactory.com/connectors/ftp-sftp) [LS Local Storage](https://www.dreamfactory.com/connectors/local-storage) C & SaaS [Sf Salesforce](https://www.dreamfactory.com/connectors/salesforce) [API REST / SOAP](https://www.dreamfactory.com/connectors/soap-to-rest) [See all 30+ connectors](https://www.dreamfactory.com/connectors) [![back arrow](https://blog.dreamfactory.com/hubfs/raw_assets/public/dreamfactory/images/orange-arrow.svg) Blog](https://blog.dreamfactory.com/) # Open Banking Platform Strategy and the Need for APIs by Spencer Nguyen ![calendar icon](https://blog.dreamfactory.com/hubfs/raw_assets/public/dreamfactory/images/calendar-icon.svg) January 9, 2026 Table of contents RECOMMENDED ARTICLES - [A Complete Guide to API Generation](https://blog.dreamfactory.com/a-complete-guide-to-api-generation) - [10 Best API Management Tools](https://blog.dreamfactory.com/what-is-api-management-a-brief-overview-of-api-management-concepts-and-tools) - [Creating a Microsoft SQL Server API in Less Than 5 minutes with DreamFactory](https://blog.dreamfactory.com/creating-a-microsoft-sql-server-api-in-less-than-5-minutes-with-dreamfactory) - [Hasura vs. DreamFactory: A Comprehensive Comparison](https://blog.dreamfactory.com/hasura-vs-dreamfactory) - [Build A Snowflake REST API in Less Than 5 Minutes](https://blog.dreamfactory.com/generate-a-snowflake-rest-api-in-less-than-5-minutes) ![Open Banking Platform Strategy](https://blog.dreamfactory.com/hubfs/Imported_Blog_Media/3.jpg) There is simply no other industry in the world like banking. In addition to dealing with and handling large amounts of financial data, this industry also places the highest [priority on security](https://blog.dreamfactory.com/api-security-fundamentals-everything-you-need-to-know/) concerns and measures. For businesses using an open banking platform strategy, APIs present a safer, smarter, and better way to do banking and business. [The future of banking](https://topmobilebanks.com/blog/digital-banks-future/) is here, and it is the open banking platform. This new banking platform strategy also means traditional banks and new banking institutions must keep up. ![DreamFactory Hosted Trial Signup](https://static.hsstatic.net/BlogImporterAssetsUI/ex/missing-image.png) ### Generate a full-featured,documented, and secure REST API in minutes. Sign up for our free 14 day hosted trial to learn how. [Generate your No Code REST API now](https://genie.dreamfactory.com/register) ## APIs Empowering Open Banking Platform Strategies The success and movement of open banking platform strategies have been well-documented. There has also been a notable increase in the number of banking institutions and financial organizations choosing to venture into the arena of [open banking platform strategies](https://www.bbva.com/en/not-the-same-open-banking-open-apis-and-banking-as-a-service/).  Much of the exploration, including the continued success of open banking strategies, has been powered by APIs. Standing on the shoulders of the most secure technologies, businesses like DreamFactory create APIs that empower, enable, and promote open banking platform strategies.  Banks and financial institutions are also moving toward open banking platform strategies for many reasons. Open banking platforms lead to more customers and greater opportunities through the increased visibility and accessibility afforded by APIs. Additionally, APIs also offer easier, smarter, and faster banking processes. [Contact DreamFactory](https://www.dreamfactory.com/support/) to learn more about how APIs can empower a new [open banking platform strategy](https://www.dreamfactory.com/hub/categories/all/) for you. ## The Different Open Banking Platform Strategy Options Banks and financial institutions have a few options for the type of open banking strategy they choose to employ. In many cases, it isn't a single open banking strategy but a combination of different open banking archetypes. There are two categories of API options (continuing and exposed) for open banking strategies. Here is a look at the open banking platform strategies, the applicable API categories, and how APIs are changing the face of banking today.  ## The Banking-as-a-Platform Strategy This banking option uses APIs in what is considered a continuing manner. Financial institutions that opt for the Banking as a Platform open banking strategy provide their own core services. This [open banking platform uses APIs](https://blog.dreamfactory.com/5-ways-api-led-connectivity-is-changing-business/) to offer (broker) external services.  This open banking platform also enables banks to work with third-party providers for options like revenue-sharing and other investment choices. Along with supporting the banking ecosystem, this banking option also opens up an additional means of revenue for banking and financial institutions.  ## The Enhanced Banking Strategy The enhanced banking platform was developed to respond to the rise in third-party providers in the banking industry (often API-powered). This is the other category of continuing APIs, again meaning the core services are still maintained and provided by the banking institution.  The enhanced banking platform was created to take advantage of those new API-driven third-party provider tools. Banking customers will also recognize the advantages and changes to the user experience as a result. This open banking platform provides customers with a hyper-personalized experience via its partnership with other third-party APIs. Banks considering an [open banking platform](https://www.forbes.com/sites/scarlettsieber/2021/03/03/open-banking-what-does-it-mean-for-the-us/?sh=77c587e3b52a) strategy are encouraged to [contact DreamFactory ](https://www.dreamfactory.com/support/)to get the expertise, APIs, and support they need to take the next step. Banks and financial institutions that opt for the enhanced banking platform can also work as their own third-party provider. This is another area where Dream Factory can help by connecting with all common databases and file storage systems to generate, secure, and deploy an API in minutes. ## The Compliant Banking Open Banking Platform Strategy This type of open banking platform strategy falls into the exposed API category. In the compliant banking open banking platform, third-party providers are granted access to information and given various authorities. This also includes access to customer services and data. While this type of [open banking platform strategy](https://techbeacon.com/app-dev-testing/8-essential-best-practices-api-security) comes with obvious concerns, it is arguably the more secure type of API categorization in the new world of open banking. That is because these APIs and providers must meet a litany of standards and go through a thorough compliance check.  The DreamFactory team also realizes that securing APIs is difficult and time-consuming. DreamFactory makes it easy with tools like user management, SSO Authentication, JSON Web Tokens (JWT), CORS, Role-Based Access Control on API endpoints, record-level permissions on data, and more. [Contact DreamFactory](https://www.dreamfactory.com/support/) to discover how to better protect your financial institution and data. ## The Banking-as-a-Service Strategy Banking as a Service is undoubtedly the most open of all the open banking platform strategies because it gives third-party providers access to a bank's core services. Due to this open banking structure, this platform typically works with only premium and proven APIs. The primary benefit of this type of open banking platform is that it offers the opportunity to leverage the benefits of third-party API providers in real time. This particular open banking platform system has experienced considerable success in Spain and Germany. ![DreamFactory Hosted Trial Signup](https://static.hsstatic.net/BlogImporterAssetsUI/ex/missing-image.png) ### Generate a full-featured,documented, and secure REST API in minutes. Sign up for our free 14 day hosted trial to learn how. [Generate your No Code REST API now](https://genie.dreamfactory.com/register) ## DreamFactory and Open Banking Platform Strategy If you are want to learn more about the open banking platform strategy or if you want to take steps toward using open banking platform options for your business, DreamFactory can help. Open banking isn't a new way of banking, only a smarter, more flexible, and easier way to do banking, for everyone. Start your free [14-day free trial](https://genie.dreamfactory.com/) with DreamFactory to discover how a top API platform can improve your business’s technology. Related Reading https://blog.dreamfactory.com/5-ways-api-led-connectivity-is-changing-business/ TAGS: [API Banking](https://blog.dreamfactory.com/tag/api-banking) ![Spencer Nguyen](https://blog.dreamfactory.com/hs-fs/hubfs/d0352ad8ab4e13aed9bf6eb0839b43c5.png?width=100&height=100&name=d0352ad8ab4e13aed9bf6eb0839b43c5.png) Spencer Nguyen As a seasoned content moderator with a keen eye for detail and a passion for upholding the highest standards of quality and integrity in all of their work, Spencer Nguyen brings a professional yet empathetic approach to every task. Stay Connected with The Connector Newsletter! Subscribe to stay up-to-date with DreamFactory's latest product updates, API best practices, and tech humor in your inbox. 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