Unleash your partner ecosystem to create new business models in the API economy.
Open API banking is a global phenomenon and needs no second introduction. While the PSD2 (Payment Services Directive 2) has further strengthened the adoption of open API Banking in Europe, banks globally, have started embracing it to deliver customer experiences that were previously not easily possible, or possible at all.
In the API economy, banks play a dual role:
- as an API Creator & Publisher – creating APIs that allow registered third-party providers access to customer and bank data & processes.
- as an API Consumer – having the ability to securely consume APIs from external, third-party providers.
Playing the dual role with the splurge of third-party providers in the industry has the banks’ work cut out in relation to API management.
Functional View of Axxiome API Management Console
API Management Console provides an intuitive, store-like experience, wherein banks can:
- Secure their APIs with state-of-the-art technology and security protocols, such as OAUTH2
- Publish and expose APIs securely with approved third-party providers
- Manage the lifecycle of APIs including versioning control
- Ensure APIs can be consumed by different types of applications; client login sites, token, password, Security Assertion Markup Language (SAML) and Integrated Windows Authentication (IWA) Test and monitor service availability, manage and analyze API traffic to have a clear view of which APIs are being consumed to what extent by which third-party providers
In summary, the API Management Console empowers banks to securely and rapidly enhance their digital offerings by using an ecosystem of third-party applications and services.