Re­mov­ing bar­ri­ers to par­tic­i­pa­tion

Financial Mirror (Cyprus) - - FRONT PAGE -

with an ERP pro­vides a per­fect fit with the cus­tomer’s cur­rent busi­ness pro­cesses.”

Sim­i­larly, ERP ven­dors can plug in their prod­ucts to the API plat­form and drive more cus­tomers to­wards Hel­lenic Bank and po­ten­tially agree on a rev­enue shar­ing model. This method­ol­ogy elim­i­nates the tra­di­tional B2B need to ex­change files or build cus­tomised pri­vate APIs per cus­tomer.

Briefly, API Bank­ing via the ERP use en­ables the fol­low­ing:

- Seam­less in­te­gra­tion with Hel­lenic Bank’s un­der­ly­ing tech­nol­ogy by trans­mit­ting pay­ments in real time from within an ERP;

- Over a si­mul­ta­ne­ous

API

call,

the re­sponse of the API pro­vides cus­tomers with the sta­tus of the trans­ac­tion ren­der­ing au­torec­on­cil­i­a­tion at their end;

- Has­sle-free bank­ing and rec­on­cil­i­a­tions with no need to man­u­ally ex­port/im­port elec­tronic bank state­ments or pay­ment con­fir­ma­tions;

- Op­er­a­tional ef­fi­ciency and fi­nan­cial plan­ning with real-time bal­ance in­quiries.

API bank­ing re­moves many of the bar­ri­ers to third-party de­vel­op­ers of­fer­ing dig­i­tal bank­ing ser­vices. Ini­tial fig­ures of our Sand­box re­veal that over four months there have been 395 reg­is­tered de­vel­op­ers, 155 reg­is­tered apps, a trans­ac­tion value of EUR 78 mil­lion and 153,000 calls to the back end through the new API en­vi­ron­ment. ‘It lets non-banks quickly build and of­fer fi­nan­cial prod­ucts with­out hav­ing to deal with bank­ing reg­u­la­tion and set-up re­quire­ments’, said Kypri­an­ides.

‘And with the clear in­ter­face, sup­port and doc­u­men­ta­tion we’ve pro­vided on­line, we think third par­ties, even those who haven’t done any­thing like this be­fore, will be able to cre­ate things that con­sumers gen­uinely want’.

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