What’s the business case for open APIs?
More and more digital financial services providers are deciding to open APIs, which can providers in several ways. In the short term, APIs can enable companies to attract new customers, increase activity rates and generate new revenue streams, as demonstrated in our case studies below. Longer term, they can strategically position providers at the center of emerging digital ecosystems. Since APIs make it easier for innovators to build an array of apps and other products that rely on financial services, customers in emerging markets benefit from greater competition and access to a wider array of services.
Eko India grew from 15,000 to 150,000 agents in just three years. Read how they did it.
In this 8-minute video, Eko co-founder Abhinav Sinha describes the role that APIs have played in his money transfer company’s rapid growth and profitability.
MTN launched open APIs for its mobile money service in 2018. Today, its APIs are being used by over 900 partners to offer everything from pay-as-you-go solar to e-commerce apps — generating revenue and new use cases for financial services.
Explore the range of open APIs being offered by digital financial services providers around the world and get ideas for your own organization.
Additional resources
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