Written by CFTE’s Experts
In the realm of digital finance, Application Programming Interface (API) platforms have become a matter of substance as time progressed. They serve as a messenger between two parties and act to set up a stable connection that helps investment banking automate the services it provides, making it possible for work and business to become more convenient and practical.
Furthermore, there is a strong push from regulatory bodies in specific countries to embrace open-banking norms in order to expand industry growth and competitiveness. The accessibility and wide-spread use of cloud computing and its connected systems are helping to improve provisioning, scalability and agility.
From booking flights to logging into our favourite social media websites, API platforms have become widely apparent in the sector of financial banking as well and they have done a great job in changing the way business is conducted.
From the implementation of smart devices that use API platforms for offering competitive solutions to forming effective communication between a bank and the relevant party, investment banking has seen progress in leaps and bounds.
Companies have picked up Internal API platforms—one of the three types of APIs—and have been working through them for years now. This reduces costs, attributes to operational efficiency, and increases the level of security.
APIs and API platforms pose a great potential if they’re utilised appropriately. Let’s have a look at some of the reasons why a plethora of investment banks in the world today have adapted to this opportune technology.
– API platforms have brought transparency and security in the way investment banks deal with clients.
– API platforms help save cycle time and costs on product application-related processes.
– API platforms provide an interface that makes investment banking assets easy to be accessed, thereby making it simple for customers to interact with their finance.
The following are some noteworthy examples of API platforms in the investment banking sector.
– By automating services that otherwise would take long hours of manual labour to complete, APIs allow investment banks to spend their time more wisely.
– APIs are equipped to customize web-based banking portals that attribute to a pleasant experience for customers.
– APIs can offer multiple services under one platform. These include investment options, loan management, payment services, etc.
Let’s take a look at some companies taking up API platforms as their daily drivers.
– Plaid is a US-based financial services company and they support the largest banks in the USA. They have their very own API platform that is used to provide a gateway for users to connect their financial accounts with an app.
– Yes Bank is a private banking company in India and their far-flung success is only due to the courtesy of hosting an extensive API network that delivers a singular platform to its customers.
– BBVA is one of the largest financial institutions in the world and is one of the best investment banks in Spain. It is known to offer a horde of API services to clients in Mexico and the USA as well.
Living in this tech-forward age, digitalization seems the only logical way forward. As more and more companies begin to harness the power of APIs, a sense of hard-and-fast competition is on the rise, and the fight for dominance is surely going to be cutting-edge and full of innovations from here onward.
The Centre for Finance, Technology & Entrepreneurship (CFTE) is a global education platform that aims to equip financial professionals and organisations with the necessary skills to remain competitive in a rapidly changing industry. Our leading training programmes, curated by global industry experts, help talent build skills to join the digital revolution in finance. CFTE’s courses are globally recognised with accreditations from ACT, IBF, CPD, SkillsFuture and ABS.
At CFTE, our mission resonates with every learner’s goals to rapidly advance in their career, to thrive in their next project or even to lead the disruption in finance with their own venture. To help you do this, CFTE gives you the tools you need to master the right skills in digital finance. We bring exclusive insights from leaders that are steering the developments in the financial sphere from global CEOs to disruptive entrepreneurs. With CFTE you don’t just learn what’s in the books, you live the experience by grasping real-world applications.
If you are looking for rich insights into how the Financial Technology arena is transforming from within, we can help you get the latest knowledge that will stir things up in your career. CFTE offers leading online programmes in digital finance, covering an expanse of topics like – Payments, AI, Open Banking, Platforms, Fintech, Intrapreneurship and more, that will help you conquer the financial technology landscape. With this expertise at your disposal, you will be on track to turbocharge your career.
You will be learning from a curated line-up of industry leaders, experts, and entrepreneurs hailing from Fortune 500 companies and Tech Unicorns, among others. They will each be presenting their knowledge and experience in the field of digital finance. No matter if you are embarking on a new journey or fortifying your role, these lecturers and guest experts will guide you through the perspective of established institutions like – Starling Bank, Wells Fargo, tech giants like – Google, IBM, successful startups such as – Kabbage or Plaid, among many more!