Security for growing businesses<\/p>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Effortless cybersecurity<\/span><\/h3>\n\t\t\t\t\t\t\t\t\t\t\t<\/header>\n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\tIf your business is growing and changing fast, choose Kaspersky\u2019s instant protection, ready to scale when you need it.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\tSee solutions<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/article>\n\t\t<\/div>\n\t\nIn India, banks have been quick to use APIs to add a new layer of customer experience.<\/p>\n
Two decades ago, banks took four to 10 days to open accounts or authorize loans. Today, APIs mean it can take five minutes.<\/p>\n<\/blockquote>\n
APIs make this possible through communication contracts among subsystems, meaning no need for human intervention. India\u2019s banking and financial services sector has been able to hyper-automate by taking the right risks and investments with API investments and partnerships in just a few years.<\/p>\n
In food and hospitality, restaurants and large delivery partners like Zomato<\/a> and Swiggy<\/a> work together thanks to APIs. Zomato\u2019s success when it launched on the stock exchange<\/a>, netting capital of around 60 billion US dollars despite being a loss-making business, may indicate the stock market understands the value of the API business model.<\/p>\nRaman Kalia, Chief Information Officer at India-based systems integration company Tecrivulet<\/a>, says, \u201cWith a robust API, businesses can go from concept to market much faster. They can focus on what they do best.\u201d Examples of the API Economy he gives include India\u2019s United Payments Interface (UPI)<\/a>, which disrupted big payment brands like VISA and Mastercard, and the government\u2019s identity system, Aadhaar<\/a>.<\/p>\nKalia thinks Aadhar and UPI are some of the Indian government\u2019s biggest API success stories. Aadhaar allows citizens to authenticate their identity. While not a citizenship card, it\u2019s now Indian citizens\u2019 first entry point to use any e-service. UPI lets banks integrate with aggregators, retailers and merchant establishments and process payments in real-time.<\/p>\n
UPI is helping bridge the digital divide in India because such a wide range of people have been able to see the system\u2019s value. Some say India is heading towards a truly cashless economy.<\/p>\n
Decide your API strategy<\/h2>\n
How much API integration your organization needs is up to you. It depends on what\u2019s happening in your industry.<\/p>\n
Your API strategy might revolve around creating APIs you can monetize, making your systems more robust or speeding up app development.<\/p>\n<\/blockquote>\n
To see what a successful API strategy can look like, consider Ola. In 2015, one of India\u2019s biggest taxi aggregators, Ola, opened its API model to third parties<\/a> when it was still finding a foothold in the market. The idea was novel but strategic \u2013 Ola wanted to partner with a travel company, a virtual assistant and a mobile app builder to increase its customer base. Ola hired about 1000 developers to further its ambition and assured stakeholders its API was secure.<\/p>\nOla soon diversified into Ola Foods and now claims to be one of India\u2019s fastest-growing platforms<\/a>. They hope to survive competition despite being a late entrant to the food and delivery market by using API-driven partner models, drones and cloud kitchens.<\/a><\/p>\nThe API fine print: Compliance and security<\/h2>\n
While API integrations have taken off like never before, the fact remains \u2013 APIs constantly expose data, services and transactions to third parties worldwide, creating complexity at scale. An API hack can have a dangerous cascading effect across internal and external systems, causing irreparable damage to organizational reputation.<\/p>\n
Cyber risk management and compliance should be at the core of your API strategy. Build in security and compliance from the start.<\/p>\n
If your business is growing and changing fast, choose Kaspersky\u2019s instant protection, ready to scale when you need it.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t
In India, banks have been quick to use APIs to add a new layer of customer experience.<\/p>\n
Two decades ago, banks took four to 10 days to open accounts or authorize loans. Today, APIs mean it can take five minutes.<\/p>\n<\/blockquote>\n
APIs make this possible through communication contracts among subsystems, meaning no need for human intervention. India\u2019s banking and financial services sector has been able to hyper-automate by taking the right risks and investments with API investments and partnerships in just a few years.<\/p>\n
In food and hospitality, restaurants and large delivery partners like Zomato<\/a> and Swiggy<\/a> work together thanks to APIs. Zomato\u2019s success when it launched on the stock exchange<\/a>, netting capital of around 60 billion US dollars despite being a loss-making business, may indicate the stock market understands the value of the API business model.<\/p>\n
Raman Kalia, Chief Information Officer at India-based systems integration company Tecrivulet<\/a>, says, \u201cWith a robust API, businesses can go from concept to market much faster. They can focus on what they do best.\u201d Examples of the API Economy he gives include India\u2019s United Payments Interface (UPI)<\/a>, which disrupted big payment brands like VISA and Mastercard, and the government\u2019s identity system, Aadhaar<\/a>.<\/p>\n
Kalia thinks Aadhar and UPI are some of the Indian government\u2019s biggest API success stories. Aadhaar allows citizens to authenticate their identity. While not a citizenship card, it\u2019s now Indian citizens\u2019 first entry point to use any e-service. UPI lets banks integrate with aggregators, retailers and merchant establishments and process payments in real-time.<\/p>\n
UPI is helping bridge the digital divide in India because such a wide range of people have been able to see the system\u2019s value. Some say India is heading towards a truly cashless economy.<\/p>\n
Decide your API strategy<\/h2>\n
How much API integration your organization needs is up to you. It depends on what\u2019s happening in your industry.<\/p>\n
Your API strategy might revolve around creating APIs you can monetize, making your systems more robust or speeding up app development.<\/p>\n<\/blockquote>\n
To see what a successful API strategy can look like, consider Ola. In 2015, one of India\u2019s biggest taxi aggregators, Ola, opened its API model to third parties<\/a> when it was still finding a foothold in the market. The idea was novel but strategic \u2013 Ola wanted to partner with a travel company, a virtual assistant and a mobile app builder to increase its customer base. Ola hired about 1000 developers to further its ambition and assured stakeholders its API was secure.<\/p>\n
Ola soon diversified into Ola Foods and now claims to be one of India\u2019s fastest-growing platforms<\/a>. They hope to survive competition despite being a late entrant to the food and delivery market by using API-driven partner models, drones and cloud kitchens.<\/a><\/p>\n
The API fine print: Compliance and security<\/h2>\n
While API integrations have taken off like never before, the fact remains \u2013 APIs constantly expose data, services and transactions to third parties worldwide, creating complexity at scale. An API hack can have a dangerous cascading effect across internal and external systems, causing irreparable damage to organizational reputation.<\/p>\n
Cyber risk management and compliance should be at the core of your API strategy. Build in security and compliance from the start.<\/p>\n