Data exchange through Application Programming Interfaces (APIs) has become increasingly popular as it facilitates industry wide innovation and increases business agility. This API-oriented approach towards technology architecture has generated a lot of attention. Banks and financial institutions are adapting quickly to rapid changes in consumer and business expectations.
The Association of Banks in Singapore has published the "Finance-asa-Service: API Playbook," which serves as a comprehensive guide in identifying and developing the APIs in an organization. The requisite data and information standards supporting these APIs are also defined. This Playbook has also been developed as a reference guide for industry adoption in the wider ASEAN region who are embarking on similar API programs.