What is an open API?

What is an open API??

Much of the software and services we use daily rely on open APIs, even if we don’t realise it. The term API stands for application programming interface, and these pieces of code establish the requirements for different software programmes to connect and communicate with each other easily. Open APIs are publicly available on the internet for developers and mainstream audiences to use. Examples of when you might benefit from these online “middlemen” include:

-??????logging into a platform using the same details from another platform, rather than creating a separate account.

-??????searching for a location and/or its opening hours on Google Maps.

-??????communicating with businesses via WhatsApp.

-??????checking real-time weather around the world.

-??????asking Alexa to provide reminders or manage smart home services.

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The power of open APIs for payment solutions and e-commerce

Whereas banks traditionally kept tight control of their communications and IT infrastructure, open APIs allow them to give access to third parties. As customers demand more control and banks strive to increase innovation, this shift is big news all-around. FinTechs can now help banks attract, impress, and maintain customers by creating up-to-date products uniquely tailored to their evolving needs. The financial institutions are able to harness the unique expertise of tech specialists to future-proof their offering and connect all the components using APIs.

?Just as people want easy, real-time access to their money, consumers demand a seamless, secure shopping experience across multiple channels. Open APIs facilitate endless ways for a brand to customise their site, personalise content, and positively engage with customers at every touchpoint. Companies can also create a unified view of valuable data to inform decisions and develop customer-centric solutions with the right API management tools. In short, an efficient API ecosystem is a foundation for delivering the ultimate customer experience.

KMMRCE is a digital enablement platform providing turnkey solutions to retail and FinTech companies. It is built on a growth-driving tech stack, providing accessible solutions that scale without complex integration processes; a suite of open APIs offer exceptional customisation and control whatever stage of the journey you’re at.