Paper

API Deployments in Inclusive Finance

Recommendations to optimize API deployments between banks and fintechs for financial inclusion

Application programming interfaces (APIs) are crucial mechanisms that allow computer programs to "talk" to each other. They help make checking account balances, payments from one provider to another, and performing know-your-customer (KYC) checks possible. Yet few small-to-medium sized banks have been able to leverage API deployments with fintechs to offer inclusive financial services.

This study elaborates on why bank and fintechs should collaborate to deploy APIs, and presents four recommendations for smaller financial institutions considering an API integration.