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.
Waiters like to work in pricey restaurants serving wealthy patrons because they are able to pay for high class service. That's also why you see so many professionals in the banking industry: it pays to work for people with money. Xignite took note of this and decided to become the Maitre'd of information to the financial industry. With more than 3.5 Billion calls per month to its Xignite APIs, it is doing a fine job of it, as well.