Leverage APIs to Create an Intelligent Financial Ecosystem

Asset management thrives on data. The more information you have, the better you can analyze insights on risks and returns to improve customer satisfaction. Developing an intelligent financial ecosystem brings the power of AI/ML to financial decisions, allowing you to improve your product and increase customer acquisition and retention.

As a data-driven, customer-centric system of interconnected technology and financial services, an intelligent financial ecosystem personalizes offerings to your customers to improve engagement and satisfaction. Within the ecosystem, technologies — such as artificial intelligence, machine learning, big data analytics, and blockchain (for blockchain-based infrastructure) — work together to automate and optimize financial processes, providing a seamless and personalized user experience for customers. Integration with, and interoperability between different financial institutions allows your customers to access their financial data and make transactions across multiple platforms and providers.

An API bridges different systems and applications to others within your institution as well as with external systems of third-party providers to make data sharing simple and secure. Risk APIs, finance APIs, and tax services APIs transform traditional banking, risk management, and investment management services. You can offer more to customers through simple API-based connections without changing your own infrastructure.

EXTEND YOUR BUSINESS QUICKLY AND SECURELY WITH AN API

Customer expectations are changing. You need to improve customer experience (CX) to allow seamless sharing of financial data across providers. An API collects information about all financial activities in one place. APIs:

	Automate aggregation of financial data from disparate sources
	Transfer data with greater speed and security
	Reduce operating costs for financial services
	Enable advanced analytics for better decision-making
	Become standardized integrations for faster time to market and monetization

An API creates an agile financial ecosystem that allows you to collaborate and innovate with other providers. You can leverage and monetize data to personalize the customer experience and expand the financial solutions you offer. Your API strategy is designed to be implemented for big data or small data activities, depending on your needs.

STAY COMPETITIVE IN THE EVOLVING WORLD OF FINANCIAL SERVICES

Economic headwinds, emerging regulatory scrutiny, and disruptive tech make your job as an investment manager challenging. An API-enabled intelligent ecosystem overcomes these obstacles and empowers you to:

	Use AI/ML to analyze large volumes of data to justify recommendations
	Customize investment products and services based on client preferences and needs
	Stay on top of regulatory changes, be proactive during uncertain times, and develop insightful risk management
	Increase advisors’ productivity and free up more time for core business and customer relationships
	Improve your customer acquisition with hyper-personalized products and services, provide real-time data, and design new products for digital native next-generation customers

When you use an API to harness the full power of financial data to drive strategy and offer your clients a better product, your job becomes easier, and you gain a competitive advantage.

IMPLEMENT SOLUTIONS THAT OPEN NEW REVENUE STREAMS AND BUSINESS OPPORTUNITIES

You understand the importance of embracing advanced data analytics and cutting-edge technology to improve CX and inform investments and strategy. Now you just need the right partner to connect an API to the digital tools that power your business.

Setting up your API requires knowledge of the financial industry, expertise in security protocols and requirements, and experience in programming and integrating systems and applications. Additionally, you need a background in data analytics to understand the API strategy best suited for your business activities and strategy.

With a team of financial services experts, SoftServe is your digital partner for innovation through solutions that make business viable and customers happy. We have more than 30 years of experience implementing end-to-end solutions. Our technical expertise and best project approaches accelerate your time to market while adhering to regulatory guidelines.

SoftServe is a premier partner for leading cloud and technology providers, API management and orchestration providers, and low-code/no-code platform providers. Such expertise establishes us as a trusted advisor. We know the pitfalls, pros, and cons of different solutions, especially when implementing a portfolio of projects where orchestration and understanding of dependencies is the key to successful implementation.