Axis Bank unveils open APIs to enable customers use integrated services

Tuesday 12 October 2021 13:28 CET | News

India-based Axis Bank has launched open APIs to facilitate its retail and corporate customers to use banking services integrated across partner platforms.

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.

Further, the APIs will allow Axis Bank’s banking solutions to get embedded via direct integration with the customers’ digital systems, without the need for a net banking interface.

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Keywords: Axis Bank, Open Banking, API, ERP
Categories: Banking & Fintech
Countries: India
This article is part of category

Banking & Fintech