February 17, 2020
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TESOBE, Berlin-based software development firm, has launched the Open Bank Project with the hopes of bringing more transparency to the world's banking community. To accomplish its goal, the Open Bank Project provides an API that banks utilize to provide transaction data to interested parties. Given the hypersensitivity of financial information, the Open Bank Project must persevere through many obstacles. However, should the idea catch hold, it could be the first example of open banking as a service.
Algorithmic trading can be an effective, systematic way to manage and allocate risk across any number of markets. With the use of APIs such as FXCM's Trading API, programmers can set up algorithmic trading systems that help remove the potential for human error while completing trades automatically.
As the week kicks into high gear, here is another edition of ProgrammableWeb's "In other API Economy News". Today we look at the Audioburst API, billed as the Google for audio; Status.im's API for creating decentralized chatbots, Movesense's announcement of their motion sensor and SDK and more.