
Application Programming Interface (API)
Application Programming Interface (API) is a software intermediary that permits two applications to converse with one another.
With APIs, an application can access information from outside sources (application/sites), thus permitting a new degree of connectivity and data sharing.
APIs as building blocks that can be added to incorporate more capacities in client channel.
APIs present a mutually advantageous answer for Bank and Clients. Banks and clients that do not invest now will pay high opportunity costs and see an erosion in their competitive value.