Via open APIs and a simulated environment, companies can build and test applications as a route to creating financial solutions.
Users can explore various APIs to help the bank with various business requirements related to fund transfers, smart collections, UPI payments, digital credit or account opening.
The bank, like others around the world, wants to improve digitisation, automation, and the reduction of manual overheads and errors.
According to Federal Bank, more than 16% of India’s total foreign inward remittances are powered using its API platform.
Current users of its APIs include Airtel, Seynse Technologies, Google Pay.
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