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Create Internal and External APIs to Unlock the Capabilities of the Bank

Posted on: 21 October '15
Raman Suprajarama
Global Head of Marketing, Banking Financial Services and Insurance

In recent years, financial technology or fintech startups and cutting-edge banks have started to disrupt the business of traditional banks. The banking industry’s best response is a strategy of API enablement, creating internal and external APIs that:

  1. Enable digital business models;
  2. Create new revenue streams with value-added services;
  3. Extend bank functionality through co-creation with clients and partners; and
  4. Optimize financial services for “Internet scale” service delivery.

Through API Enablement, banks can transform themselves from spectators in the digital economy to being hands-on participants in the financial services of the future. Banks anticipate a wide range of benefits from API enablement – just ask the bankers themselves.

API benefits as anticipated by Banks”: API benefits as anticipated by banks | Mindtree Blog

Source: Bank Innovation and Open Bank Project, March 2015.


While APIs have been around a long time, they’ve only recently become pervasive and powerful to support the key success factors of an enterprise: creation of marketable products and services; distribution across physical and digital channels; and agility in innovation and reengineering.

The push toward API enablement won’t wait. Within the next 24 months, I expect significant uptake in APIs in financial services. Those banks that execute on a well-timed and crisply-executed API strategy will be in an excellent position to capitalize on tremendous opportunities for customer engagement, operational efficiency and revenue growth.

How can banks adopt a healthy API strategy?

Organizations that have followed this approach to API enablement have solidified their strategic positioning as digital providers within their respective industries. I encourage you to read the two viewpoints that detail the challenges and typical progression for how APIs evolve within a digital bank. Understanding this progression is important for banking organizations attempting to develop a rational strategy for developing and implementing APIs.

Viewpoint 1: Fintech APIs Challenge the Traditional Banks

Viewpoint 2: Staged Approach to API Evolution

Learn more about Mindtree’s banking solutions.

Raman Suprajarama

Raman Suprajarama is a marketing and communications leader. He has 12+ years of experience in both enterprise marketing and consumer marketing in BFSI and Retail Industries. He specializes in launching products, lead generation and nurturing, creating brand awareness, customer acquisition, engagement and retention, and improving conversions and sales.