Financial providers that can meet changing customer and market demands and provide an API-based approach are well-positioned to build and define the financial services of the future, as detailed in a new whitepaper from NETSOL entitled APIs in financial services: Unlocking the future with API-first solutions.
The accelerated digital transformation as a result of the pandemic and customers who are demanding more and expecting faster more targeted offerings has resulted in many companies reshaping their business model to leverage platform elements by building ecosystems within an industry or across traditional industry borders or by setting up marketplaces connecting customers and providers.
The financial services industry is increasing collaborating with API-first technology organisations to onboard innovative applications to existing platforms and systems using API-based solutions. The addition of API-based modular applications is a necessity for the way business is conducted in a digital ecosystem in order to meet changing customer behaviour and market demands.
NETSOL’s calculation engine Flex is the first in a number of API-based services which NETSOL plan to deliver as standalone products in a unique SaaS marketplace known as AppexNow. The move reflects an increasing trend away from end-to-end platforms towards buying best-in-class solutions which can be bolted into an existing system, and is designed to create a fintech marketplace with out-of-the box configurable and scalable SaaS components.
The whitepaper is available to download now by using the form below.