The API Banking portal has a suite of API products covering 200 plus retail APIs across cards, deposits, accounts, loans, 51 corporate APIs across payments, trade, collections, bill payments as well as cross-cutting APIs, India’s third largest private sector bank said in a statement. The corporate API product suite will allow companies across ecommerce, food delivery, payment solutions and other businesses to offer financial settlements and other secure financial transactions from their own ERP platforms.
The bank underscored that APIs, which are in line with its Open Banking philosophy, cover banking transactions that corporates do with their partners and customers on a daily basis pertaining to payments, refunds, payout reconciliation and account management, and trade finance, besides other transactions.
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