The world is moving towards a subscription-based connected economy, and organizations have to reorganize and adapt to this new economy. A big part of this reorganizing is dependent on the maturity of your business and technology, and your technology needs. For more established organizations leaving behind their legacy systems is not easy— they need a mechanism that interlinks their legacy assets with the new subscription economy. Application Programming Interface (API) becomes a necessary cog that can drive this fundamental change.
API is a digital glue that binds systems together, moving away from pre-existing silos. It is a mechanism which enables internal coordination among systems and applications, addressing silos through containerization.
The main objective is to closely knit applications and websites that define an organization in its entirety.
Leveraging the API economy
API is all about ensuring mediation, security, orchestration, management, and telemetry, with security being its central focus. As open APIs have started replacing private APIs, we can see many examples of its successful implementation worldwide. The industries that are actively investing in such APIs are retail and banking. For example, open banking uses APIs that allow third-party developers to engineer applications and services around a financial institution. EU banks are leveraging this heavily.
So, an API can be an ideal market driver for digital change as it creates synergy among old and new platforms, programs, different assets, and databases.
Our key learnings
- Align technology roadmaps to the business goals of companies through a digital maturity assessment process
- Use a clear API design strategy to stitch all the systems together instead of re-engineering existing systems
- Offer a Service-Oriented Architecture (SOA) with principles that are designed to not only address current IT problems of clients, but also their future technology requirements
- Create security posture around which they can operate safely
Delve deeper into the state of APIs and their role as the digital glue for digital transformation by taking a look at Brillio’s speaking session at the NASSCOM Product Conclave held in Pune by heading over here https://youtu.be/GSrM8TMAUn0
Feel free to share your thoughts and ask questions in the section below or drop an email to email@example.com