Five benefits of APIs that can help credit unions meet their service goals
Your application programming interface strategy doesn’t have to be ambitious.
Application programming interfaces have been around for more than two decades, but their importance is only growing, at least according to 88% of IT banking executives in a report done by Mckinsey. That’s not surprising since APIs help save time, target services, improve efficiency and compliance, enhance member experience, and expand core processor functionality and features. A better understanding of these benefits can help your credit union build an API strategy that matches its own distinct, high standards of member service.
First, there are three types of APIs. Internal APIs are created and used within an organization for its own business purposes while external APIs, both partner and public, allow for collaboration with third parties.
APIs enable credit unions to:
- Save time. APIs help systems interact with one another, creating faster, smoother collaboration and a streamlined user experience.
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