Did You Know?Industry estimates suggest more than 1 billion surveillance cameras existed by the end of 2021, and the total global surveillance camera market grew to about USD 43-44 billion by 2024. Most of that growth is due to AI-based video analytics (such as facial recognition and face detection). Today, that technology can be found all over the place, whether you unlock your smartphone, tag a photo on social media, watch security feeds, or control…
Traditional banks are quickly changing to meet the needs of today’s customers, who expect all their financial transactions to be easy, fast, and secure. A key component of this change is known as API Banking or embedded finance — the backbone of embedded finance is powered by API banking or the invisible infrastructure that supports all transactions that take place on embedded finance. According to Bain & Company’s 2023 report, the global embedded finance market…
For many decades, small businesses have had very few traditional banking advantages, such as higher fees, fewer options for capital, and stricter processes limiting their ability to grow. However, API banking is revolutionizing these circumstances for small businesses. In fact, industry sources indicate that API-first lending solutions will account for 40% of the total market for small business lending by 2026, meaning that in less than one year, nearly half of all loans issued to…
According to Accenture, the payment systems of banks that leverage API banking models in 2024 processed transactions at 12 times the speed of transactions processed using traditional systems and onboarded customers at 7 times the efficiency of traditional systems. This growing divide in transaction processing speed illustrates a significant transformation of the banking industry as the speed, scalability, and digital experiences associated with API banking models have become key competitive advantages. Rapid adoption of API…
By 2025, over 10 trillion in financial transactions globally will be facilitated via API-based platforms, according to a report by PwC and the Open Banking Working Group. That’s more than the combined GDP of Germany and Japan—flowing not through branches or banking apps, but through invisible, programmable interfaces. This single statistic captures a profound shift: APIs are not just tools—they are becoming the infrastructure of modern banking. From real-time UPI transfers in India to embedded…
In India, since cash on delivery is the standard practice for almost every delivery, lags in cash flow are felt throughout the ecosystem of delivery providers, shippers, and consumers. Cash on hand accumulates 14% of GDP, which is run in courier bags. Excel files to provide cash payouts accumulate in your email inbox, and cash payouts occur at the end of the delivery process after incurring all of the expenses associated with the delivery. Using…
