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.

API Economy: The Importance for Fintech Companies
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