As technology evolves at breakneck speed, Application Programming Interfaces (APIs) have become a powerful tool for integrating information, processes, and technology across an enterprise. A 2019 study by Cloud Elements found that 55 percent of business owners believe API integration is critical to their business strategy.1
APIs have been largely responsible for the growth of the modern digital economy with Big Tech companies like Amazon, Facebook and Uber all relying on them to power their business and create seamless digital experiences. For credit unions, APIs can help drive deeper member engagement within their payments channels by enabling them to introduce new innovations faster and more seamlessly than ever before.
What is an API?
As a quick refresher: an API is essentially code that makes it easier for two systems or applications to relay information to one another. We use APIs every day when we’re booking flights, buying movie tickets, or checking the weather on our phone – they are the connective tissue that allow products, services and applications to interact without having to create duplicate code.
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