Axis Bank
Axis Bank launches a wide range of API Banking solutions
Mumbai: Private sector bank Axis Bank in line with its OPEN Banking philosophy, announced the launch of a wide range of open APIs (Application Programming Interface), facilitating its retail and corporate customers/partners to use banking services integrated across partner platforms.
Axis Bank’s API Banking portal has a suite of API products covering 200+ Retail APIs across Cards, Deposits, Accounts, Loans; 51 Corporate APIs across payments, trade, collections, bill payments as well as cross-cutting APIs. This reimagined customer proposition facilitates end - to end simplified digital customer journey with faster integrations.
The Corporate API product suite includes 14 Payments, 2 Collections and 11 Trade APIs, offering a digitized corporate onboarding journey, with quicker self-registration, digitized UAT access requests and other features. Also customized APIs for new ideas/use case suggestions, which helps build a stronger business relationship.
Example: It allows companies across e-commerce, food delivery, payment solutions and other businesses to offer financial settlements and other secure financial transactions from their own ERP platforms. The latest range of APIs cover all necessary banking transactions corporates do with their partners and customers on a daily basis pertaining to payments, refunds, payout reconciliation & account management and trade finance, besides other transactions. The APIs will allow Axis Bank’s banking solutions to easily get embedded via direct integration with the customers’ digital systems, without the need for a net banking interface.
On the occasion, Sameer Shetty, President and Head – Digital Business & Transformation, Axis Bank said: “With Axis Bank’s focus on ‘OPEN’ Banking initiatives as part of our digital strategy, we are committed to simplifying customer journeys and bringing greater convenience through constant innovation in our offerings.
With these latest API Banking offerings, we look forward to collaborate and co-create with partners, to offer an enhanced user experience and simplify their day-to-day operations.”
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