It can be difficult for local financial institutions to keep up with the latest must-have features when digital technology is always evolving. This is where APIs can help position a lender quickly respond to the needs of the digital borrower.
Increasingly, banks and lending institutions are using APIs to adapt to the evolving needs of their consumers and become more innovative in their digital banking efforts. In fact, banking and lending institutions use APIs every day. With API functionality, digital banking features like income deposits, bill pay and money transfers between accounts are possible.