Ram Kumar RamaswamyApril 9, 2021
A for API
APIs: the magic glue that connects islands of data and unwraps new possibilities for businesses.
The banking, financial services, and insurance (BFSI) sector has always been lukewarm in adopting the latest technological innovations. Being the nerve center of all human activity in the world, it is understandable that the BFSI sector has been relatively conservative in readily adopting new tech, as untested waters bring in security concerns of varied hues.
However, the times are changing, more so in the last decade, with cloud and mobile technology having been able to not only prove efficacy, but also provide better security over static, on-premise technology. This unhinging of software from on-premise to the cloud, coupled with the infinite scalability and flexibility offered by API technology has spurred a wave of innovation in the FinTech industry in the past decade, with more to follow in the coming years.
First comes Open Banking practice, that unites third party financial services, open access to BFSI data to enable new services, and to expedite existing processes. This has opened the floodgates of financial services to both individuals and for institutions to execute decisions and enable processes in real-time, offering unprecedented convenience. Processes that took days to push are now available at a few clicks, taps, and swipes, enabling exponential growth in the delivery of financial services, such as lending. Managing investments, processing payments, and regulatory compliance have all become a cakewalk to institutions, thanks to the power of finance APIs.
Personal Data: To share, or not to share:
The trade off has always been debated, but there is no denying the fact that, if rightfully done (meaning: with consent and regulatory approval), APIs are bridges that link different islands of data to enable services at a fraction of the cost, and the maximum convenience of all parties involved. No sweat. Finance APIs enable third party access to data in a super secure and efficient manner, on a ‘need to know’ basis.
Same door, different cats: Permutations and combinations galore:
A one-stop API orchestration marketplace comes handy for a financial service provider to streamline their processes, and gain access to insights to uncover new avenues of growth. Convenience is a prized aspect in any service, and CONNECTperfect is there for you at every step of your journey. Gain access to any and every API that we have to offer, and pay for only that you use. Switch on, and off as you please. No questions asked.
Just Push Play. Cloud first, scalable, modular, and real time end-to-end API orchestration.
CONNECTperfect is a bouquet of more than 200 individual financial APIs made available through a single window of access. That which is needed can be subscribed to, linked, reconfigured, repurposed, and repeated across various workflows remotely. Anywhere. Anytime. On any device.
The integrated, dynamic, cloud-based portal of CONNECTperfect delivers the best-in-class API services to scale up a wide gamut of services across financial institutions. CONNECTperfect helps to instantly increase a company’s operational efficiency and employee productivity from the get-go.
Value during every step: Say goodbye to repetitive tasks through seamless and intelligent API orchestration.
Every step of the way in offering a financial product or a service demands the stringing together of a wide number of checkpoints, and processes to ensure business sense and compliance. And with every manual step, there is a near exponential increase in the chance of incurring an error. By automating your sequence of tasks on CONNECTperfect, you can maximize productivity and minimize disruption by employing a compact workforce to handle a laundry list of processes. Only that which is seen can be managed or controlled.
Visibility in every step of your API orchestration is the holy grail for effective and flawless control. With your decision makers gaining complete visibility of every process through the dashboard, team members can be reassigned to projects to suit changing priorities and deadlines. Despite the churn in processes, thanks to the visibility and ease of control, employee experience is surprisingly stress-free, as more gets done with less. Every time.
Did we say CONNECTperfect is a no-code platform with a simple visual interface, and a browser-based dashboard? You may take a look at how CONNECTperfect is enabling decision makers dynamic access and centralized control to the multitude of API services they can readily enable, switch, or disable from an ever-expanding catalogue of offers? Explore this page to read more about CONNECTperfect, a complete API orchestration suite that is secure, scalable, flexible, and accessible on any device, any time, from anywhere for businesses to run any business automation process.
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