APIs are mechanisms that enable two software components to communicate with each other using a set of definitions and protocols. For example, the weather bureau’s software system contains daily weather data. The weather app on your phone “talks” to this system via APIs and shows you daily weather updates on your phone.
What does API stand for?
What does API stand for?
API stands for Application Programming Interface. In the context of APIs, the word Application refers to any software with a distinct function. Interface can be thought of as a contract of service between two applications. This contract defines how the two communicate with each other using requests and responses. Their API documentation contains information on how developers are to structure those requests and responses.
Some important 3rd Party APIs for a Financial Services App
Some important 3rd Party APIs for a Financial Services App
Most of the MF distribution application need following APIs to make it useful and customer friendly :
- NSE NMFII API : For enabling Online transaction in your application
- BSE Star MF API : For enabling Online transaction in your application
- MFU Utility API : For enabling Online transaction in your application
- CAMS E KYC API : For creating Online KYC for new On boardings
- Advisor Khoj/ Morning Star etc : For presenting scheme wide data and charts
- PaySprint/ Bill Avenue etc : For enabling PAN card creation, Online payments and other Bill Payments
- Policy Anchor/ Policy Bazaar etc : For presenting Insurance Quotes and comparison along with Online buying
- Finnsys 360 API : For presenting complete customer data through RTA feed
How to get these APIs ?
How to get these APIs ?
All these APIs are available at free or reasonable annual charges, from the respective entities. We provide full support in getting these APIs in case the app development is done by us. APIs are classified both according to their architecture and scope of use. We have already explored the main types of API architectures so let’s take a look at the scope of use.
Private APIs
These are internal to an enterprise and only used for connecting systems and data within the business.
Public APIs
These are open to the public and may be used by anyone. There may or not be some authorization and cost associated with these types of APIs.
Partner APIs
These are only accessible by authorized external developers to aid business-to-business partnerships.
Composite APIs
These combine two or more different APIs to address complex system requirements or behaviours.
Can we get Counselling for our App ?
Can we get Counselling for our App ?
We provide our senior resource for Rs 25000/- one time , for a complete counselling session on the app building. Such session consist of 4 classes and it will help you in creating a sketch of your project. This session does not put you into any obligation to get the mobile application build through us.
Drop a message in our contact section, we will get back to you for more details. Follow us on your favourite Social Media