The Case for Open Ecosystems

[Music] It used to be that technology companies would rely on their own talents to develop products that customers would buy. But, increasingly with the new platform companies, the likes of Facebook and Amazon have shown is that you get a whole lot better in terms of technology development and product development if you open up your platform for other people to participate in. So if you think about Amazon Marketplace as an example of that, they have created a whole ecosystem around buyers and sellers coming together on the Amazon platform. This is what open API’s facilitates. It facilitates the easy mingling of commerce between a proprietary set of technologies and technologies developed by third parties. Open architecture is one that makes it easy for me as a solutions provider or as a developer or as a start-up. It could be a Fintech company, whatever it is, they can easily integrate to it, make changes to it, integrate into their application fabric. [Music]

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