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customer data and services. It offered working on "a common set of APIs to front-end that solution as well."
the example of partnering with fin-
techs to use a bank's payments API to For its part, Visa wrote in a recent white paper that acquirers "have an oppor-
offer payment services to merchants. tunity to broaden their role into 'payment initiation' type services. As well as
"Banks can charge developers direct- competing against these new players, they will have significant potential to
ly for the API calls, agree on revenue collaborate with them."
share arrangements, or agree on oth-
er models for revenue generation," Patti Murphy is senior editor at the Green Sheet and co-host of the Merchant Sales Podcast.
the report suggested.
Follow her on Twitter @GS_PayMaven
Payments in banking DNA

Fiserv, owner of leading acquirer
First Data and a major provider of
core processing services to banks
and credit unions, is investing heavi-
ly in supporting open banking across
all of its core solutions, according to
Van Der Stad. "We're working with
multiple solution providers and pro-
viding a single open API to enable
integration," he said.

The company's DNA platform, for
example, is designed around an open
architecture and features real-time
processing capabilities, a robust digi-
tal ecosystem and the ability to easily
integrate to third-party applications.
"It enables financial institutions to
be more relevant to current custom-
ers and attract new customers," Van
Der Stad said. He added that over 500
financial institutions across North
America use DNA, and that number
continues to grow.

In March the company announced
Citizens Bank & Trust, an Alabama-
based community bank, had signed
on as a DNA. "Previously, custom-
ers had to navigate between mul-
tiple sites and apps to access their
accounts, none of which consistently
display the most current transaction
information," said Sam Pate, CIO at
the $700 million asset bank. "With
DNA we'll be able to integrate what-
ever tech our strategy demands and
operate in a real-time environment
with consistently up-to-date account
and transaction data."

Fiserv's open banking strategy
doesn't stop with DNA. "This is a
Fiserv-wide initiative," Van Der Stad
said. Asked specifically how First
Data fits in, he said the company is

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