Banks need strong application programming interface (API) strategies if they want to retain their business clients. Business to business (B2B) APIs enable financial institutions (FIs) to give their business customers a wider array of services, by enabling them to pull banking data into third-party accounting software and other services. Failure to provide such opportunities could lead to customers leaving for FIs that will cater to these needs.
The January B2B API Tracker covers the latest developments in the space and explores how banks are tapping APIs to streamline business banking and provide better B2B payment services.
Around The B2B API World
FinTech Revolut is seeking to cater to small- and mid-sized businesses (SMBs) that may not have accounting specialists on staff. Revolut aims to support these businesses’ needs by using an open banking API for directly connecting clients to the Intuit QuickBooks Online accounting platform.