Removing barriers to participation
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
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’.