Axis Bank, India’s third largest private sector bank, announced the launch of a wide range of open APIs (Application Programming Interface), facilitating its retail and corporate customers/partners to use banking services integrated across partner platforms, the bank said in a release.
Axis Bank’s API Banking portal has a suite of API products covering 200+ Retail APIs across Cards, Deposits, Accounts, Loans; 51 Corporate APIs across payments, trade, collections, bill payments as well as cross-cutting APIs, it said in the release.
The Corporate API product suite includes 14 Payments, 2 Collections and 11 Trade APIs, offering a digitized corporate onboarding journey, with quicker self-registration, digitized UAT access requests and other features. Also customized APIs for new ideas/use case suggestions, which helps build a stronger business relationship, it added.
Axis Bank said that it allows companies across e-commerce, food delivery, payment solutions to offer financial settlements and secure financial transactions from their own ERP platforms.
The APIs will allow Axis Bank’s banking solutions to easily get embedded via direct integration with the customers’ digital systems, without the need for a net banking interface, the bank said.
Sameer Shetty, President and Head – Digital Business & Transformation, Axis Bank said, “With Axis Bank’s focus on ‘OPEN’ Banking initiatives as part of our digital strategy, we are committed to simplifying customer journeys and bringing greater convenience through constant innovation in our offerings. With these latest API Banking offerings, we look forward to collaborate and co-create with partners, to offer an enhanced user experience and simplify their day-to-day operations.”
