The API Economy can be seen as a digital, automated exchange of business competencies allowing organizations to integrate core services with one another to develop and expand business cases and new markets.
Sourced through Scoop.it from: www.maxcode.net
Concise summary of API Economy and in particular applied to Fintech.
Some quotes, I liked:
“If ‘software is eating the world’ as Marc Andreessen pointed out, then it needs a plate.”
“API integration become thus a strategy for speed and cost effectiveness, and allow the organization to synchronize revenue and cost growth.”
“Your API is your new product!” –> In my view it is rather: Your API is your platform, which you need to treat like a product.