Posts tagged api
The power to better manage disparate data flows

This is an excerpt from a transcript of The Axway Blog Team’s podcast, “Key takeaways of the ‘Speed to Revenue and Improved Customer Service’ white paper.”

ANNOUNCER: Hello everyone. The Axway Blog Team recently had a chance to catch up with Peter Benesh, Axway’s director of solution marketing for the Financial Services industry, and ask him to share his thoughts on the key takeaways of the IDC Financial Insights white paper titled “Speed to Revenue and Improved Customer Service: How Data Agility Underpins Success for Financial Institutions in the New Digital Economy” by Alex Kwiatkowski. Key Takeaway 4: Advances in API technology create opportunities to leverage new channels on top of existing services and provide better user experiences, increase revenues, and reduce costs. Real-time integration has the power to better manage disparate data flows and deliver tangible benefits.

PETER BENESH: An immediate example that comes to mind is somebody like Fidelity. If you have a Fidelity account… And say you want to do a 401k rollover. Say you want to close out your 401k and pull the money out. Or let’s say you have an investment portfolio. You have a variety of money market funds, maybe some stock index funds. If you want the flexibility to shift that around very easily and quickly… My personal experience working with some situations like that is you have to call Fidelity, or at least put in a request through a portal. It takes a while for them to confirm that they’ve closed the 401k, that you have to wait seven days or something like that before the check actually gets sent to you. I’m sure a lot of that bureaucracy is created to ensure privacy, to ensure accuracy. But if you could have a technology like the API portal and gateway that provides companies like Fidelity the confidence that all of this is happening securely and within policy, but enables the customers to do it themselves in true real time, then that’s obviously going to attract somebody to that type of service much moreso than one that takes a lot longer. It’d be great if I could just log in to Fidelity and, on the fly, move my money from one market fund to another, rollover 401k, pull money out of a 401k, if I need to close it, and have that all just happen instantaneously.

To download the white paper, click here.

To listen to the podcast on YouTube (audio only), click here.

Enterprise IT Insights for the Internet of Things

I posted an article recently on ServiceTechMag.com. Please take a look and share!

Since the advent of the smartphone—brief as its introduction was in 1992 with IBM’s Simon; complete in its ubiquity with Apple’s 2007 iPhone launch—computers have taken over as the operation centers of our most commonly used devices. Today, the most current cars, refrigerators, thermostats, washers, dryers, ovens, televisions and more don’t rely on wiring, but rather depend on programming to operate. Internet of Things (IoT) devices have Application Programming Interfaces (APIs), which enable remote management and connectivity. Through these APIs, they can interoperate. The IoT holds the promise of a world where, for instance, a thermostat equipped with motion sensor technology can connect to a home or business network, receive constant updates on the outside temperature, adjust indoor room temperature automatically by controlling heating and cooling systems through APIs … and tell the coffee maker to turn on when someone walks into the kitchen. Connected cars already offer APIs for remote unlocking and location services. And the list goes on; the IoT is already here. By enabling this level of interconnectivity, the IoT promises the highest degree of efficiency in terms of time and energy in our daily lives, as well as the closest levels of machine-to-machine, person-to-machine and person-to-person connectivity the world has ever known. But to make these connections positive and productive, the IoT has to be secure. In its infancy, it simply has not yet achieved the necessary level of security. Hack upon hack into smart devices, their applications and the networks on which they run prove the IoT has holes. The holes exist at the level of the APIs that form the backbone of these interconnections. Patching the holes at the API level is the key to overcoming these security hurdles and achieving success in today’s IoT landscape.