Components of the crisis Most of the crises over the past few decades have had their roots in developing and emerging countries, often resulting from abrupt reversals in capital flows, and from loose domestic monetary and fiscal policies. In contrast, the current ongoing global financial crisis has had its roots in the US.
26 This could be a boon--particularly for small community banks that would not have to worry about developing the best consumer interface, mobile app, digital wallet, or lending product. The bank would only have to worry about getting the connections to an open API right and then reap the benefits of the innovation by third parties.