Fintech Payments

Googling PSD2, APIs and open banking

Googling PSD2, APIs and open banking. Image by Gatiatulin Dinar, Shutterstock.com
Written by Chris Skinner

What happens when you inspect Google Trends for some of the hottest topics in financial services? Chris Skinner finds out.

I was really interested in a presentation by Benny Boye Johansen, head of OpenAPI at Saxo Bank, at our recent Nordic Finance Innovation meetings. In particular, he put up some slides that were illuminating, amusing and strange. They were Google Trends charts looking at payments APIs, PSD2 and open banking.

Google Trends tracks search interest over time, and the charts below show searches over the last five years and when it peaks and wanes. 100 = of most interest and 0 = of least. What’s amazing is that payments API is of most interest to the Americans …

Payments API is of most interest to the Americans. Screenshot of Google Trends in June 2017 by Chris Skinner.

… PSD2 to the British …

PSD2 is of most interest to the British. Screenshot of Google Trends in June 2017 by Chris Skinner.

… and open banking to the Irish …

Open banking is of most interest to the Irish. Screenshot of Google Trends in June 2017 by Chris Skinner.

Of the three, the open banking discussion is getting most focus, but I would take some of this with a pinch of salt, because when I looked at trends in Germany, France and Belgium, PSD2 interest is also strong, but it’s spotty. It’s not been consistently and relentlessly moving upwards, but instead looks more like a steady heartbeat …

The steady heartbeat of PSD2. Screenshot of Google Trends in June 2017 by Chris Skinner.

… while the UK interest, centred around London, is growing all the time …

UK interest in PSD2. Screenshot of Google Trends in June 2017 by Chris Skinner.

I thought I would then try the same with Brexit. Brexit is of little interest except when the vote took place back on 23 June 2016, but if we take that out and just look at the past three months, the results are quite intriguing, with interest peaking on 29 March:

Brexit is of little interest, except for a March peak. Screenshot of Google Trends in June 2017 by Chris Skinner.

This was probably because of the Legsit debate. Nevertheless, there’s consistent interest in all these things, but mainly in the English-speaking nations. Ah, there we go. We need the foreign language translations for PSD2.

READ NEXT: 11 fintech trends you need to follow

– This article is reproduced with kind permission. Some minor changes have been made to reflect BankNXT style considerations. Read more here. Image by Gatiatulin Dinar, Shutterstock.com

About the author

Chris Skinner

Chris Skinner is an independent commentator on the financial markets through the Finanser, and chair of the European networking forum the Financial Services Club, which he founded in 2004. He is an author of numerous books covering everything from European regulations in banking through to the credit crisis, to the future of banking.

Leave a Comment