Over the years, firms have constantly rotated between proprietary technology and using shared concepts and resources. While there are many benefits to home grown or custom designed systems, initial development costs and the ongoing maintenance of those can limit scalability and crush budgets.
With those challenges the value of APIs (Application Programming Interfaces) has been in the spotlight. APIs allow teams to leverage existing ideas instead of taking time and resources to recreate the tools. This kind of agility can support smaller teams and allow scalability to firms of any size with access to the newest resources.
Thinking about getting started with APIs? Here’s a few questions to consider:
- What is the customer need or operations objective you want to fulfil?
- What can an API provide that your current system cannot?
- Do you have a long term and short-term plan for leveraging APIs?
Companies are looking to increase organizational efficiency, enhance the customer experience and create the full technology ecosystem to do so. Now they have access to thousands of APIs that can help.
Programmableweb.com lists more than 20,000 APIs. While their charts show only a few thousand a decade ago, they show a few thousand being added each year.1 With such rapid growth and expansion it can be overwhelming getting started or knowing were to reach out for additional options.
That’s why technology-focused firms like Axos Clearing have been building APIs for years and continue to expand the offerings to meet expanding and evolving customer needs. To provide an enhanced user experience and provide a holistic view of our existing and expanding collection, we’ve recently launched our API store at https://developer.axosclearing.com/ .
Through feedback we will be continually adding and enhancing the functionality our firms ask for. If you’re starting to leverage APIs or are looking to expand, visit our API catalog to learn more.
Related: Three Benefits of Real-Time Data