API Monetization Models

Possible routes to generating revenue from APIs

APIs, and the data behind them, are expected to emerge as important assets as banks consider new ways of generating revenue. The industry is exploring several different ways of charging for API-based services thus giving rise to several monetization models. But these business models are new to the industry, and it will take a while for banks to realize optimal monetization models for different types of engagements. At this point, the possibilities appear to be wide open.

API Analytics Areas

Monitoring and measuring the API ecosystem via Analytics

Banks can increase the value of their APIs by applying data analytics techniques to monitor API usage and performance. The periodic monitoring of APIs will help to determine which APIs are performing well, which developers are delivering highest traffic, and which apps are causing issues. Collection, analysis, and visualization of API metrics can lead to insights which can help banks optimize their current processes. As the connected ecosystem evolves, banks will have access to incredibly large and rich sets of data they could use to deliver timely offers or superior services to customers.