{"id":1310,"date":"2016-07-13T07:50:44","date_gmt":"2016-07-13T13:50:44","guid":{"rendered":"https:\/\/cigniti.com\/blog\/?p=1310"},"modified":"2021-06-08T00:32:28","modified_gmt":"2021-06-07T19:02:28","slug":"is-your-api-strategy-in-place-for-digital-banking-transformation","status":"publish","type":"post","link":"https:\/\/www.cigniti.com\/blog\/is-your-api-strategy-in-place-for-digital-banking-transformation\/","title":{"rendered":"Is your API Strategy in Place for Digital Banking Transformation?"},"content":{"rendered":"
Recent headlines in Yahoo Finance read, \u201cAT&T Drives IoT Innovation, Combines Tools for Developers\u201d. As the title suggests, this will allow developers to use tools that provide the ability to convert data to intelligent action.<\/p>\n
On similar lines, more and more organizations are using Application Programming Interface (API) strategies in order to share their backend data in order to further facilitate better services for their clients. It is vital to note that the common idea, that just about anyone can use this data by registering and begin developing applications, is actually misconstrued. The majority of contemporary API programs play a key role in the overall strategy of an organization\u2019s business model.<\/p>\n
As a company further strives to distinguish itself in its industry, there are two main areas of focus, strategically speaking:<\/p>\n
Banks are not far behind in pursuit of companies that can help them provide a better service to their customers. These are the Fintech companies that come from modest beginnings and are more than happy to grow their ventures by merging or forming contracts with big, established banking giants. The banks that opt for the services provided by these companies are in turn not looking at availing these services as some form of acceptance of defeat that they cannot exercise control over their own value chain. Instead, they are looking to be visionary and truly innovative for their customer base.<\/p>\n
The image below shows clearly how Web APIs work, and why they are turning out to be ever more crucial functions in organizations across all the various sectors.<\/p>\n