Contact us for a personal offer on FinMV that is customized to your needs.
The abbreviation API stands for "Application Programming Interface". Most large companies at some stage develop APIs for customers or internal use.
An open API connected to a financial platform allows your business to offer connectivity and endless integration opportunities.
Usually, developers make a website, an investor's office, and a back-office, leaving the API for later. As the business develops, there are needs for integration with other services and partners. Then developers add an API to enable such integrations. This is the usual result of treating the API as an afterthought rather than as a contract between modules.
The weak point in this approach is that the API is essentially an appendage to the platform, which is needed only for communication with external partners. As a result, API capabilities are usually scarce and duplicate part of the back-office functionality.
Also, this approach creates vulnerability. If the API is based on the back-office, then the back-office site itself cannot be left accessible only to employees and closed from external requests to it. The back-office site will have to be accessible to everyone, not just employees since any external partner service will have to be able to access the platform via the API.
Because modules are defined by explicit contracts from the start, the API is there from the beginning rather than bolted on later. That is a consequence of how we choose architecture, not of any one deployment style.
On your financial platform, we can say that the "brain" of the system is the API. All data is processed in it, business logic is laid down, queries are made to databases and service providers. Your promo site, customer portal and back-office also conduct all work with the platform through the API.
This approach provides several advantages:
