What Is an API (Application Program Interface)? | Axos Bank

What is an API?

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It’s likely that you’ve experienced the power of APIs without knowing it. For example, if you have scrolled through a newsfeed on your smartphone, Apple News and Google News both utilize APIs from major media sources to offer up the most relevant current events.

API’s or Application Program Interface are useful integration technology tools to help organizations receive real-time information to update their systems. APIs provide a secure and real time connection between systems.

This connection allows your system to receive continuous real-time data transfers and updates ensuring refreshed data for faster decision making. Depending on the complexity of your organization, leveraging APIs to streamline your operations may be a good fit.

Examples of banking APIs include: Account Opening, Account Closing, Balance Inquiry, and Wire Reporting.

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What is an API?