NEEBank is ready to exploit Open APIs Open Ecosystem
API (Application Programming Interface)
In the past two years, users have been increasingly able to implement utilities and services on bank accounts such as checking account balances, outstanding loans, saving deposits, bank loans, financial investments, pay bills… . via applications of non-bank providers, without accessing the Internet Banking website or Mobile Banking. Many new business models were born thanks to the open APIs Open Ecosystem technology, Open Banking, the open banking construction platform. This is considered one of the technologies that will completely change the banking and finance industry coming.
API (Application Programming Interface) or application interface programming is considered as an intermediary connection platform that helps application programs to interact and share data with each other. In the financial sector, API is used to connect many products and services from partners by allowing third parties; payment providers or other authorized banking services to access the system and retrieve relevant banking information. Thereby, forming an ecosystem helps users simultaneously use many services right on the application; instead of using multiple applications, multiple platforms and at different times.
Through the APIs Open Ecosystem
This is also a premise to help build and develop digital banking models in the open ecosystem. Through the APIs Open Ecosystem, the banking sector in the world is in a new revolution, forming many business models that promise to bring breakthrough values to customers.
Developing open platforms will be an approach to help banks solve the problem of diversifying financial services; reaching different customer groups at reasonable costs in terms of human resources, finance and time.
In Asia, NEEBank is one of the pioneer banks with an open banking model via the blockchain platform. Through digital banking, users not only use pure banking services such as money transfer; savings but also experience products and services from affiliate partners.
During the past time, NEEBank has researched and applied open platform technology to digitize products and services. With NEEBank, customers can easily pay for electricity, water and Internet bills, recharge phones right on the app or transfer money via wallets to purchase and pay for services.
By connecting with partners through the API, customers can access many financial investment products such as insurance; or investment right on the digital banking application. In addition, the NEEBank banking application also integrates a variety of financial services to bring added value to customers through reward, reward, and discount programs.
According to customer-centric criteria, NEEBank digital products and solutions take customer experience and needs as the foundation to build. The launch event of NEEBank – Asia’s leading digital bank will officially take place on November 29-30, 2020 in Dubai. Let’s look forward to this special event of OMANEE group organized by Ecoworld Inc.