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The country's fintech law, passed in 2018, laid the groundwork for open finance, and in 2020, the National Banking and Securities Commission published comprehensive rules for APIs. Open finance in Mexico is being implemented in phases, with a focus on financial inclusion and the standardization of data exchange processes. [27]
The separation of the API from its implementation can allow programs written in one language to use a library written in another. For example, because Scala and Java compile to compatible bytecode, Scala developers can take advantage of any Java API. [19] API use can vary depending on the type of programming language involved.
The API-based bank as a service platform serves as the back-end that hosts standalone independent fintech startups and integrates seamlessly with any existing back-office of traditional banks. This allows non-banks to easily and cost-effectively launch additional financial products and expand into additional markets. [3]
Open banking in Nigeria was kickstarted by the Open Banking Nigeria as an initiative to be non-partisan and non-financial API standards for Nigerian financial services. It was formed in June 2017 by a group of bankers and fintech experts who got together to propose the adoption of common API standards for the country. [13]
An open API (often referred to as a public API) is a publicly available application programming interface that provides developers with programmatic access to a (possibly proprietary) software application or web service. [1] Open APIs are APIs that are published on the internet and are free to access by consumers. [2]
For example, 32-bit integer maps to uint32_t, fixed strings maps const char *, floating point maps to float and so on. One can generate a C/C++ struct from the schema definition. Then, given a pointer to a message buffer, accessing non-composite fields of the message amount to type-casting it to a pointer to structure and accessing structure ...
BIAN brings banks, vendors of banking applications, and service providers together as a community to achieve synergies [buzzword] by collaborating on a consensus understanding of the requirements for banking enterprise services within an SOA framework and a formal description of a banking services landscape canonical definitions.
An example of a popular web API is the Astronomy Picture of the Day API operated by the American space agency NASA. It is a server-side API used to retrieve photographs of space or other images of interest to astronomers, and metadata about the images. According to the API documentation, [15] the API has one endpoint: