Meaning
The full form of API is Application Programming Interface. API Banking refers to using APIs to allow third-party platforms, like fintech apps or business portals, to securely access banking services.
How It Works
Banks expose certain features—such as balance checks, fund transfers, and statement generation—through APIs. These APIs can be integrated into mobile apps, websites, or enterprise systems to automate banking tasks.
Use Cases
Businesses use API Banking to streamline payroll, reconcile payments, and automate settlements, improving efficiency and reducing manual errors.
Benefits
API Banking enables real-time banking services, faster settlements, and customized financial solutions without logging into traditional bank portals.
