APIs: The Key to the Future of Financial Services

Financial services institutions are undergoing some of the biggest changes in their history. They have now become, in a way, technology companies.

The key behind this digital innovation is the use of APIs. Not only are APIs providing traditional integrations on the back-end, but also opening up new frontiers to the end customer.

With two of the five largest global insurance companies and four of the top five US banks as clients, Akana has a proven track record in delivering solutions for financial services APIs.
 

Image Api Banking Financial

The Four Pillars of Financial Services APIs

FinTech strategy is built on the following principles – all of which are enabled through APIs:

Innovation

Finding new ways of doing business and providing new services to counter the threat from competitors and disruptors.

Customer Experience

Merging brick-and-mortar and digital capabilities to create a seamless customer experience across all channels.

Modernization

Utilizing a platform business model to create an integrated ecosystem offering additional products and services to customers.

Rationalization

Staying competitive with strictly digital insurance and banking providers with less overhead than brick-and-mortar providers.

What Insurers Can Learn From Open Banking

Read the Gartner Analyst Report to learn what insurance CIOs can implement into their API strategy.

How Akana Solves APIs for Financial Services

Data Protection and Security

Akana was the only vendor with a perfect score for API Policy and Security in Forrester Wave 2018. Comprehensive, out-of-the-box security includes a JOSE Security Policy and mitigation of the OWASP API Security Top 10 vulnerabilities.

Deliver New Services

Provide services to your customers anywhere, anytime, and on any device. With the only perfect score in the Forrester Wave 2018 for API Portal, Akana makes it easy to design and deploy secure financial APIs, create a developer ecosystem, and drive growth in your business.

Application Modernization

Modernizing applications to create platform business models opens up new possibilities for other providers to white label your offerings as a service to their customers, while satisfying all regulatory requirements. Akana's full lifecycle API management platform makes it easy to support the platform business model.

Expand and Support a Global Customer Base

Akana is globally distributable and high-performing at scale to offer services around the world, complying with regulations in multiple jurisdictions and handling the requirements of a fast growing customer base.

Over 19 Years of API Management Leadership

Leaders across all industries trust their API security to Akana

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Additional Resources

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