How FIS Is Using Open Banking APIs to Attract Younger Customers

Why It Matters

Open‑banking APIs give banks a faster path to win Gen Z, reshaping revenue and competitive positioning in a regulated landscape.

Key Takeaways

• FIS targets Gen Z with open‑banking APIs to boost acquisition.
• Code Connect aggregates core and money‑movement APIs for banks.
• APIs let banks integrate fintech solutions faster than building in‑house.
• Single entry point simplifies fintech integration across FIS ecosystem.
• New Open Banking rules create both risk and opportunity.

Summary

The video features Hashim Tusant, head of digital and open banking at FIS, discussing how the firm is leveraging open‑banking APIs to attract younger consumers.

He explains that younger customers have fragmented banking relationships, and APIs enable banks to quickly deliver innovative, best‑of‑breed solutions by tapping third‑party fintech capabilities. FIS’s Code Connect serves as both an API repository—covering core banking and money‑movement functions—and a gateway for external calls.

Tusant highlights the value of a single entry point, allowing fintechs to integrate once rather than with multiple providers, and references ongoing dialogue about the new Open Banking regulations (e.g., PSD2/1033) that shape risk and opportunity.

By simplifying integration and accelerating product rollout, FIS aims to help banks win the next‑generation market, potentially reshaping revenue streams and competitive dynamics in the financial services sector.

Original Description

How can banks attract the next generation of customers?

At Money20/20 USA 2024, we spoke with Hashim Toussaint, Head of Digital and Open Banking at FIS, to find out how open banking APIs are helping banks engage younger, digitally savvy consumers.

As customer expectations evolve, traditional banks face growing pressure to deliver seamless, digital-first experiences. In this interview, FIS explains how APIs and fintech partnerships are helping financial institutions innovate faster, improve customer journeys, and remain competitive.

In this video, discover:

• Why banks are struggling to retain younger customers

• How open banking APIs are transforming digital banking

• The role of FIS’ Code Connect platform in accelerating innovation

• Why fintech partnerships are becoming essential for banks

• How APIs help banks launch new services faster

• The impact of new open banking regulations, including Section 1033 of the Dodd-Frank Act

According to Hashim Toussaint, digital-native consumers expect frictionless access to accounts, fast onboarding, and seamless digital experiences. That’s why APIs have become central to modern banking strategies.

FIS’ Code Connect platform acts as a single gateway to core banking APIs, money movement APIs, and open banking services—helping banks integrate best-of-breed fintech solutions without building everything from scratch.

Watch more interviews from Money20/20 USA :

https://ffnews.com/fintech-tv/event/2024/money20-20-usa-2024/empowering-banks-to-attract-the-next-generation-of-customers-fis-ff-news-at-money20-20-usa/

@Money2020Tv