- INFOGRAPHICS
- Sunday, 27 June, 2021
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API Spotlight – Where are we?
The use of APIs has been exponentially growing in recent years with more and more people realizing that APIs connect the entire world.
Do you know how apps let you create an account and login with your Facebook/Google credentials?
How does your favorite weather app get today’s weather forecast?
Are two systems talking to each other to give you that information? Yes, through an API – Application Programming Interface who basically set the rules for the communication to happen.
WHAT THE EF***?
According to an article in Fintech Futures, Embedded Finance offers a very large addressable #market #opportunity worth over $7 trillion in ten years’ time, twice the combined value of the world’s top 30 #banks today
WHY NOT?
The potential opportunity is massive. Nearly all aspects of our lives are “embedded” with #finance. So isn’t it fair that we get access to financial services on our own terms, from anywhere and at any time.
WHAT I WANT?
🚕 When getting a ride with Uber or buying food through deliveroo, I don’t want to fumble around at the end to provide payment
🛒 My new purchase on Klarna should instantly be split into instalment payments, with little friction and no credit card fees
🛗 An extra tick box on a car purchase should set up my insurance
And many more such instances without me noticing the finance if it’s properly embedded as it just becomes a part of the product.
WHAT ABOUT YOU?
Don’t know anything about it? 🧐
Here’s my quick dig on the basics of the #embeddedfinance through this #fincuts.
Have already experienced it and thinking about it? 😇
Don’t be shy, tell me! All ears as I take first steps in this space to learn more.
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