
API's are Revolutionizing the Banking Sector to Ensure Safety
FREMONT, CA: The landscape of payments continues to undergo significant domestic and global changes. Managing the effect of new technologies, faster payment projects, and enhanced global regulation have become a balancing act of moving components for stakeholders across the sector while attempting to stay customer-centric. Enforcing standardized Application Programming Interfaces (APIs) is becoming progressively crucial for financial services companies as they seek to deliver differentiated digital experiences and customized client services faster and more effectively.
Check out: Top Banking Security Solution Companies
Financial institutions profit from APIs and the cloud. The former enhances access to banking facilities, while the latter offers more flexibility. Together, cloud-based APIs have an even more significant beneficial effect on financial institutions. Organizations that combine their API and cloud strategies can quickly implement customer-facing innovations using inner or external resources rather than spending years developing solution alliances. Smarter yet, any organization that wants to incorporate the services of a bank into its schemes can enjoy onboarding quicker. Previously spent time and money to figure out how new services can be used to address more urgent problems.
Breaches of cybersecurity have become all too prevalent. But while each sector has to deal with cybercrime, none is targeted more frequently than financial services. As per IntSights, a quarter of all malware attacks were targeting financial services organizations in 2018. It is essential for the banks and credit unions to consider API-appropriate safety measures as part of their strategy during an age in which information breaches occur at an alarming pace. Trust in information privacy and safety is an essential consideration for many customers when selecting a bank.
APIs ' excellent potential is to provide higher flexibility in consumption, and the services of a bank can be integrated, into apps and experiences from third parties. But to realize this potential, customer authentication and data protection procedures need to develop from taking into account the effect of third-party and multi-party service delivery. Some organizations work on the premise that an API is all it takes to drive interest in a new service and eventually boost its use. However, a closer look shows that there is more to do a service known than just linking it to an API.
Banking Security Solution Companies - Advanced Fraud Solutions, Cyber Forza, eMudhra
Many companies have outlined their API approach; few have taken the required measures along the manner to promote trusted delivery of financial services. Organizations can remain one step ahead of the contest by combining API projects with their cloud approach, safety "API-fying" and client journey consideration.
Featured Vendors
THETA432: Performance, Precision, Efficiency, Visibility - The Key to Incident Response and Answer to the Talent Shortage
EveryCloud Technologies: Delivering Powerful Email Filtering Services" title="Graham O'Reilly, CEO & Co-Founder" style="float:left; margin-right:10px; margin-bottom:20px;" width="60px" height="50px">
EveryCloud Technologies: Delivering Powerful Email Filtering Services
Onepath: A Responsive Info-Security Management Framework – the easier way to dramatically improve your overall info-security posture
Covenant Security Solutions, Inc.: Revolutionary Solutions to Mitigate Security and Compliance Risks
EDITOR'S PICK
Essential Technology Elements Necessary To Enable...
By Leni Kaufman, VP & CIO, Newport News Shipbuilding
Comparative Data Among Physician Peers
By George Evans, CIO, Singing River Health System
Monitoring Technologies Without Human Intervention
By John Kamin, EVP and CIO, Old National Bancorp
Unlocking the Value of Connected Cars
By Elliot Garbus, VP-IoT Solutions Group & GM-Automotive...
Digital Innovation Giving Rise to New Capabilities
By Gregory Morrison, SVP & CIO, Cox Enterprises
Staying Connected to Organizational Priorities is Vital...
By Alberto Ruocco, CIO, American Electric Power
Comprehensible Distribution of Training and Information...
By Sam Lamonica, CIO & VP Information Systems, Rosendin...
The Current Focus is On Comprehensive Solutions
By Sergey Cherkasov, CIO, PhosAgro
Big Data Analytics and Its Impact on the Supply Chain
By Pascal Becotte, MD-Global Supply Chain Practice for the...
Technology's Impact on Field Services
By Stephen Caulfield, Executive Director, Global Field...
Carmax, the Automobile Business with IT at the Core
By Shamim Mohammad, SVP & CIO, CarMax
The CIO's role in rethinking the scope of EPM for...
By Ronald Seymore, Managing Director, Enterprise Performance...
Driving Insurance Agent Productivity with Mobile and Big...
By Brad Bodell, SVP and CIO, CNO Financial Group, Inc.
Transformative Impact On The IT Landscape
By Jim Whitehurst, CEO, Red Hat
Get Ready for an IT Renaissance: Brought to You by Big...
By Clark Golestani, EVP and CIO, Merck
Four Initiatives Driving ECM Innovation
By Scott Craig, Vice President of Product Marketing, Lexmark...
Technology to Leverage and Enable
By Dave Kipe, SVP, Global Operations, Scholastic Inc.
By Meerah Rajavel, CIO, Forcepoint
AI is the New UI-AI + UX + DesignOps
By Amit Bahree, Executive, Global Technology and Innovation,...
Evolving Role of the CIO - Enabling Business Execution...
By Greg Tacchetti, CIO, State Auto Insurance
Read Also
