The urgency is due, in part, to ongoing modernisation efforts and growing open banking regulations, says Pieter de Wet, business development lead at FutureBank.
The rapid increase of application programming interface integrations has been a significant challenge for banks for some time. However, it is now urgent that organisations find a solution and execute a strategy to avoid an API tsunami.
This could be due to a lack of experienced development teams and complexity of legacy systems, De Wet adds. De Wet says South African banks face challenges like the bottlenecks and innovation limits that are caused by legacy systems.
Pieter De Wet Futurebank FSCA Webber Wentzel Application Programming Interface
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