APIs will become very important in Fintech. Earlier, APIs were built for networks which were slower and far more expensive. Also, they were designed more from the perspective of data storage than as an active ingredient of coding, which would be called over and over again. Leading APIs are now constructed keeping in mind the reduction in price for network bandwidth and the ability of the cloud ecosystem to provide fast access to massive amounts of information. Most FinTech companies now float their products on cloud services so that they can access API data like an on-premise database. If it’s on the cloud, it’s on their fingertips.

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