Introduction
What is API Banking?
An application programming interface, typically shortened to API, is a set of rules which determines how one software program access the data or functionality provided by another software program. It enables banks to provide APIs to third-party developers, allowing them to create innovative and user-friendly banking applications. This ability of API Banking helps the customer to perform banking transactions in an easy manner without having to toggle between his Enterprise Resource Planning (ERP) platform and bank.
Benefits of API Banking:
Real time solution for processing banking transaction.
Exchange data or files in encrypted environment.
No need to visit bank or uploading transaction files manually.
Providing critical infrastructure up front and reduce the requirement of resources
How it works:
Let’s take an example here, when you use a weather app on your phone, it might use an API to request weather data from a remote server. The server processes the request and sends back the information, which the app then displays to you. This makes it easier for developers to build applications that can work together without needing to know the details of each other's inner workings. Below are the brief steps on how API banking works.
Client can choose the API service and do virtual testing on RBL Bank developers' portal in Sandbox section.
Handshake of RBL Bank's and client's technical team for testing support.
Development and UAT Testing.
Production testing and Live.
Client to fill, attest and share the form for onboarding.
RBL Bank offers API’s across products and use cases
Equipped with our services inventory and API platform, we provide you the chance to reach, test and use Bank’s digital services.
