The journey of APIs: Enabling seamless interconnectivity and financial accessibility

By Kanhaiya Gautam, Chief Technology Officer, Lentra

APIs and the Digital Economy

Application Programming Interfaces, well known as APIs, have become the cornerstone of technological progress, driving interoperability and innovation. From the rise of smartphones in 2011 to the digital-first services we rely on today, APIs have enabled businesses to deliver seamless experiences in the banking industry particularly lending, where APIs have simplified processes, increased accessibility and meet the demands of a growing tech-savvy population.

Post 2010: Smartphones, Apps and the Demand for Interconnectivity

The early 2010s marked a pivotal moment in technology. The rise of smartphones connected millions of people online, driving demand for application based ecosystems and real-time interconnectivity. This rapid technological adoption didn’t just reshape how people communicated, it also changed consumer behavior- everyone started buying goods and services through the same device including financial services product & services.

With a growing number ...