ABOUTAPIs
About APIs & Integrations
Banking APIs have evolved from a tool for cost-saving to a driver of innovation and revenue growth. Initially introduced to meet regulatory requirements like PSD2, APIs now play a crucial role in simplifying IT, enhancing agility, and enabling financial institutions to innovate quickly.
As banks modernized their legacy systems, the focus shifted to leveraging APIs for creating new revenue-generating products and services. This shift has allowed banks to innovate at a faster pace, delivering independent, efficient, and scalable systems.
Why APIs Matter
The primary objectives of API efforts have evolved:
- 2020:Â Focused on reducing IT complexity.
- 2022:Â Prioritized driving innovation.
APIs are essential for:
- Enabling Innovation:Â Allowing banks to modernize legacy systems and introduce new digital products.
- Monetizing Services:Â Providing new opportunities for revenue generation, particularly through payments and open banking.
- Enhancing Efficiency:Â Simplifying internal processes and reducing integration costs.
The Future of APIs
Currently, most APIs are internal, but banks are increasingly opening them to partners and the public. This expansion aims to build a more connected and efficient ecosystem. Over the next three years, banks plan to double the share of APIs available to external partners, enhancing collaboration and innovation.
Our Solution
At Stream, we leverage leading technologies like Spring Boot and Microsoft Azure to develop robust banking APIs for core banking and payment functions. Our solutions are designed to support both internal and external integrations, enabling banks to modernize their infrastructure and offer innovative services.
Key Features
- Building RESTful Services with Spring: RESTful APIs are the standard for web services due to their simplicity and efficiency. We use Spring Boot to create resilient, scalable, and secure REST APIs that can easily integrate with other systems.
- Microservices Architecture: We adopt a microservices approach to ensure flexibility and resilience. Microservices allow us to deliver small, self-contained applications that can be deployed independently, enhancing fault tolerance and agility.
- Comprehensive API Management: Our hybrid, multicloud management platform provides a unified environment for managing APIs across all systems, ensuring seamless operation and accelerated growth.
Benefits of Our Solution
- Time-Saving: Accelerates development and deployment processes.
- Enhanced Productivity: Improves efficiency and reduces maintenance overhead.
- Greater Fault Tolerance: Ensures system reliability and stability.
- Improved Business Alignment: Allows for better alignment with business goals and faster innovation.
API Management
Our unified API management platform simplifies the management of APIs across hybrid and multicloud environments. This integrated approach helps enterprises move faster and achieve their growth objectives by streamlining API operations.
Stream’s expertise in API development and integration helps banks and financial institutions unlock the full potential of their digital capabilities. By partnering with us, you gain access to cutting-edge technologies and a team dedicated to driving your innovation and growth.
