What is API BANKING?
Application Programming Interface (API) Banking: API Banking makes use of APIs (XML/JSON codes) for communication between bank and client servers, making data transfer between these two systems seamless, ensuring seamless and secured integration between the customer’s and bank’s systems. This ability of API Banking helps the customer to perform banking transactions in an easy manner without having to toggle between his Enterprise Resource Planning (ERP) platform and bank.
Explore the world of APIs available with ICICI Bank Developer Portal – For signup, please click here
Benefits of API Banking
- Direct integration and Instant solution – Real time solution for processing banking transaction
- Secured medium of integration – Exchange data or files in encrypted environment
- Highly efficient mode of banking – Reduce turn-around time of banking transaction as initiation as well as reverse status available on customer system on real time. Easy reconciliation
- Saves time - No need to visit bank or uploading transaction files manually.
How it works:
Step 1: Client can choose the API service and do virtual testing on ICICI Bank developers portal
Step 2: Client to sign the NDA/ Application form for the access to UAT & production environment
Step 3: Handshake of ICICI Bank’s and client’s technical team for testing support
Step 4: Development, Testing and Live