UOB sees muted demand for APIs
Singapore
MUCH hype has surrounded the use of banking application programming interfaces (APIs) when thus far, demand has been muted, said UOB's group head of banking technology Graeme Greenaway.
APIs enable other brands, corporates, fintechs and software developers to "talk" to the bank to access a breadth of services, including funds transfers and account enquiries. APIs are basically sets of requirements - routines and protocols - issued by a business or an institution that determine how one application communicates with another. For example, a Google Maps API enables app developers to embed Google Maps in web pages. With APIs, software developers save on time needed to build new apps, and can update the information embedded.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft, Brookfield to partner on renewable energy projects
UK house prices fall again after mortgage rates creep higher
Why the yen is so weak and what that means for Japan
UAE's top bank FAB beats Q1 profit estimates
IndoAgri appoints former EDB chairman Philip Yeo as chairman and lead independent director
US, Philippines eye agreement to cut China nickel dominance