Phy-gital Roundtable: Breakfast Roundup from Germany and Netherlands

02 May '15 | Debjyoti Paul

German Shoppers: Meet Them in the Fast Lane to Phy-gital

15 January '15 | Ralf Reich

Shoppers Will Share Personal Information (But They Don’t Want to be “Friends”)

15 January '15 | Anil Venkat

Modernize or Perish: Property and Casualty Insurers and IT Solutions

14 January '15 | Manesh Rajendran

Benelux Reaches the Phy-gital Tipping Point: Omnichannel Readiness is Crucial

13 January '15 | Anil Gandharve

The New Omnichannel Dynamic: Finding Core Principles Across Industries

13 January '15 | Debjyoti Paul

Technology does not disrupt business – CIO day 2014 Roundup

02 December '14 | Anshuman Singh

Apple Pay – The Best Is Yet To Come

02 December '14 | Indy Sawhney

Digital transformation is a business transformation enabled by technology

01 December '14 | Amit Varma

3 Stages of FATCA Testing and Quality Assurance

06 October '14 | Raman Suprajarama

3 Reasons why Apple Pay could dominate the payments space

18 September '14 | Gaurav Johri

Beacon of Hope: Serving Growth and Customer Satisfaction

05 August '14 | Debjyoti Paul

The Dos and Don’ts of Emerging Technologies Like iBeacon

30 July '14 | Debjyoti Paul

What You Sold Us On – eCommerce Award Finalist Selections

17 July '14 | Anshuman Singh

3 Steps to Getting Started with Microsoft Azure Cloud Services

04 June '14 | Koushik Ramani

8 Steps to Building a Successful Self Service Portal

03 June '14 | Giridhar LV

Innovation outsourced – a myth or a mirage or a truth staring at us?

13 January '14 | Ramesh Hosahalli

What does a mobile user want?

03 January '14 | Gopikrishna Aravindan

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

Posted on: 21 October '15

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.