Posts Tagged ‘API’
OCEN and digital lending: a revolution waiting on the anvil
The newest kid on the block of digital lending and financing is the OCEN, or the Open Credit Enablement Network. Announced by Nandan Nilekani, cfounding architect of Aadhaar and co-founder and non-executive chairman of Infosys, this is the newest initiative to help bring credit to the ones who need it the most. OCEN promises the…
Continue ReadingWill OCEN be the UPI of lending?
The problem of universal access to credit seems elusive. The issues are all too familiar. Traditional players like banks and NBFCs still rely on old world methodologies (balance-sheets, collateral) with largely ‘one-size-fits-all’ credit products. These products follow a bank-centric design, and not a borrower-centric design. The fallouts are huge, as this traditional approach results in…
Continue ReadingIndia’s Neobanks
The world of FinTech was already undergoing a transformation, even before the Covid-19 pandemic struck. The unprecedented lockdown situation only precipitated the transformation. The digital revolution so far has enabled large scale integrations through APIs to enable a range of services to the customer, be it food ordering, ecommerce, or investments. Though the adoption for…
Continue ReadingThe API ecosystem
From being obscure technical components to helping create a whole ecosystem that is at the heart of nearly all commerce and business today, APIs have come a long way. We inhabit an app-dependent world, and those apps in turn depend on APIs – application programming interfaces. APIs are the magic glue that connects to integrate…
Continue ReadingAccount Aggregators-not quite there yet
2016: RBI approves a new class of non-banking financial companies to function as Account Aggregators (AA) to extract, aggregate, and transfer financial data with the express consent of users. 2019: Personal Data Protection Bill 2019 (PDPB) introduced in the Indian parliament to provide the legal backbone for AAs. 2020: PDPB yet to come into force,…
Continue ReadingWhy banks must warm up to APIs?
After enough has been written about the benefits of using APIs for banks, only one pertinent question remains: It now boils down to ‘When rather than Whether’ for API adoption by banks. In that pursuit, the biggest challenge seems to be – ‘how to monetize our API efforts?’ The simple answer is to figure out…
Continue ReadingThe World of APIs
If you are using a travel site to book flight tickets or an entertainment app to book movie tickets or simply making payments through your mobile, you are using APIs- the technical name for programs that help software systems connect with one another and perform tasks by sharing information. Closer to home, a telling example…
Continue ReadingUse of APIs across various industries
“We have to stop optimizing for programmers and start optimizing for users. — Jeff Atwood Just a decade ago, the term API would have sounded foreign to anyone not directly involved with software development. Application Programming Interface—just the abbreviation is a mouthful. But in 2020, and more in the years to come, this term is…
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