Bank APIs are reshaping financial services by enabling secure, real-time data sharing that reduces friction and improves customer experiences. Unlike screen scraping, APIs use tokenized, permissioned access, strengthening security and transparency. They support use cases like account aggregation, instant account verification, integration platforms, and enhanced data accuracy, cutting costs and improving loyalty. Open banking and open finance expand these benefits, allowing consumers to unify accounts, switch providers easily, and access innovative services. For banks and fintechs, APIs unlock new revenue streams, drive innovation, and prevent vendor lock-in, positioning them as the foundation of modern banking.

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