The acquisition of software provider Mulesoft by financial technology provider Salesforce may go a long way towards opening the banking ecosystem in the United States, as Salesforce integrates the former’s API capabilities into its platform.
The acquisition, with a potential $6.5 billion value, will give Salesforce the ability to use Mulesoft’s API integration engine, which will allow the financial technology provider to access troves of data across multiple organizations, a connectivity across banking that is becoming “essential” to the way FIs now do businesses, Mulesoft writes.
Essentially, open banking allows financial organizations to take a platform approach to banking, granting a more holistic look at the financial lives of their individual customers. In addition to these APIs, Salesforce will also be able to utilize Mulesoft’s technology in building Edison, it’s AI/machine-learning engine.
Bank Innovation has reached out to Salesforce and Mulesoft for comments.2 - Readers Like This Post