Connect with us

Business

The reasons why banks need to move on to an open APIs

Published

on

The financial sector is part of a digital boom. Traditional banks are leaning towards modern trends and information is provided to the third parties ensuring secrecy of the bank. Let us understand why such things are happening, who are the people that require them and why?

Banking data and its disclosure

The inception of this trend was in Germany in the year 2010. Ever since the open banking project has gone on to gain popularity where support is extended to projects that disclose banking data. The influential banks of the country have gone on to extend support to the same.

In UK, with help and support of the government authorities, the open  banking standard initiative was launched. Their aim was to enhance competition or enhance the accessibility of services among financial institutions. As part of the initiative it was decided that banks need to provide the third parties, so called the fin tech companies with information regarding account balances of customers. Even access  to their current accounts are provided. As part of the module it was decided that open banking was made mandatory for 9 banks having its operation in UK. This goes on to serve more than 80 % of the population of the country.

API technology and its uses

The provision along with transmission of data is carried out by an open api banking or referred to as application programing interface. It goes on to include requests, commands with the aid of how computer applications interact and end up exchanging information with each other. It forces each other to accomplish actions.

An example of API usage can be the smartphone applications where users can check their balances, verify their bank account API, make payment and banking transactions can be undertaken from the smartphone.

The benefits along with prospects of an open API

A growing trend that is witnessed all over the world is an open banking API that is provided to organizations working in the financial sector. This modern form of innovation benefits bot the clients and the banks. An example is that it enables to develop a universal application of an app that can witness the information of each bank where the account holder has an account. Earlier for each bank a user needed to downloaded their own application that further complicated the choice of various services or offers that are rolled out by the bank

A multi- banking phone application allows the users to check the balance online and manage the accounts of various banks. The account operations are streamlined as you need to select a bank for making payments, a credit check in a faster way with the use of smartphone applications. It is possible to simplify or execute the mortgage applications that enables to determine the financial competence of an individual relying on smartphone devices. It makes the process of obtaining the loan an effortless task.

An easy access to the banking API provides numerous benefits to a bank

The banks have an option to extend their distribution channels for financial products relying on modern information systems and third party companies. There is bound to be development of numerous distribution channels as it enhances the potential ability to enhance the client base of the bank. In return banks will get uninterrupted level of services from third parties that makes it easy to navigate through the financial trends.

At the same time an open bank API, allows a chance to follow the new market from the interiors. Even it outbids the most successful company in the market to strengthen its own position in the market. It is quite obvious that the benefits of an open API benefits all the process parties. There is a need to understand on how this concept is applied in countries all over the world.

The experience in operating an open API in banks

In the USA, still there is a lack of regulation on the issue of open API banks. But a favourable financial environment did help in the creation of a financial aggregator company known as Mint. Their website was already used by more than 20 million people in the US and Canada in the year 2016. In Singapore an opening API was supported by the Monetary Application or MAS. It provides guidance for the financial sector to exchange financial data effectively and formulate the stage of innovative banking projects.

Best for business and individuals

An open API helps businesses along with individuals at a major level. Such a system requires end to end digital infrastructure as still some of the banks are not able to provide a personalized experience to the users. There are some open platforms that provide APIs, cloud computing, AI based analytics along with a high level of security that is necessary for banking transactions. Firstly digitalization is implemented in the banks to provide a seamless experience to the clients, customers or even the banks. But such an evaluation to spread its wings globally may take some time.

Since 2018, the European payment initiative was implemented in the European countries. There is an obligation on the part of financial institutions, and provides API to third party companies who are looking forward to be working in the financial sector. Such a move will enable to enhance competition in the financial smart phone segment, with the emergence of technology companies.

The various banks along with financial institutions have started to work together. But there is ample scope of improvement in an open augmented realty like components of virtual reality, digital advisors, augmented realty etc. This goes on to enhance the trust factor and gives customer experience a much needed pep up. If you are planning to fast track your open banking journey and stay ahead of the curve it is better to obtain more idea about open banking API.

When it is India, The stack open information API was catered so as to cope up with the demand of next generation financial services.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

TEACHERS HALLOWEEN COSTUME IDEAS 2023

Published

on

By

TEACHERS HALLOWEEN COSTUME IDEAS 2023

In this blog, we’ll present a collection of fun and innovative Halloween costume ideas that will transform you into the ultimate “spooktacular” teacher. From classic literary characters to scientific icons, historical figures to superheroes, there’s something for every teacher looking to add an extra touch of Halloween magic to their classroom.

TEACHERS HALLOWEEN COSTUME IDEAS

Here are some teachers Halloween costume ideas

Literary Legend: Bring your favorite literary character to life! Dress up as Alice in Wonderland, Sherlock Holmes, Miss Frizzle from “The Magic School Bus,” or even a whimsical Harry Potter character like Professor McGonagall.

Historical Hero: Pay homage to influential figures from history. Become a famous scientist like Albert Einstein or Marie Curie, a courageous leader like Abraham Lincoln or Joan of Arc, or a groundbreaking artist like Frida Kahlo.

Super Teacher: Embrace your inner superhero by creating a unique teacher alter-ego. Design your superhero costume with a personalized logo that represents your teaching superpowers, like “Captain Calculus” or “Ms. Wordsmith.”

Math Maven: Make math more magical by dressing up as a math wizard. Don a robe covered in equations, wield a wand made of rulers, and challenge your students to math puzzles throughout the day.

Science Sorcerer: Transform into a science sorcerer with a lab coat, goggles, and a few vials filled with mysterious substances (water, of course!). Explore the wonders of the universe with your young scientists.

Geography Guru: Turn geography into an adventure by dressing up as an intrepid explorer. Add a safari hat, a compass, and a world map to your ensemble and take your students on a global journey.

Artistic Ace: Unleash your artistic side by becoming a famous painter or sculptor. Dress up as Leonardo da Vinci, Vincent van Gogh, or Frida Kahlo, and inspire creativity in your classroom.

Tech Whiz: Embrace the digital age by dressing up as a tech-savvy guru. Adorn yourself with wearable gadgets and accessories that represent the modern tools of education.

Music Maestro: Be the maestro of Halloween with a music-themed costume. Dress up as a famous composer like Ludwig van Beethoven or as a rock star music teacher to inspire the young musicians.

Storybook Teacher: Combine elements of classic fairy tales to create a whimsical storybook teacher costume. Incorporate elements from “Little Red Riding Hood,” “Goldilocks and the Three Bears,” or “The Three Little Pigs.”

the key is to have fun and let your creativity shine through your chosen costume. It’s an excellent opportunity to engage your students, spark their imaginations, and create a memorable learning experience. Happy Halloween!

Continue Reading

Business

9 Meaningful Ways to Get More Twitter followers

Published

on

By


Twitter is one of the most popular social media platforms in the world. It has over 330 million monthly active users, making it a powerful tool for businesses and individuals alike. However, getting more followers on Twitter can be a challenging task, especially if you’re just starting out. In this article, we’ll explore 10 meaningful ways to get more Twitter followers.

1. Optimise Your Profile

Your Twitter profile is the first impression that people have of you, so it’s important to make it count. Make sure that your profile picture, header image, and bio accurately represent you or your brand. Use keywords in your bio to help people find you when they search for those terms.

Make sure that your Twitter handle is easy to remember and relevant to your brand. You can also include a link to your website or other social media profiles to encourage people to check out more of your content.

2. Tweet Consistently

Consistency is key to gaining more Twitter followers. Make sure that you’re tweeting on a regular basis, but also make sure that your tweets are high-quality and relevant to your target audience. Share interesting articles, photos, videos, and quotes that relate to your industry or interests.

3. Use Hashtags

Hashtags are a great way to increase the visibility of your tweets and help people find your content. Research relevant hashtags in your industry or interests and include them in your tweets. You can also create your own hashtag to encourage engagement and brand awareness.

However, make sure that you’re not overusing hashtags – this can make your tweets look spammy and turn off potential followers.

4. Engage with Your Followers

Engagement is key to building a loyal following on Twitter. Respond to comments and messages from your followers, retweet and like their tweets, and ask for their opinions and feedback.

Engaging with your followers shows that you care about their thoughts and opinions, and can help build a stronger relationship with them.

5. Participate in Twitter Chats

Twitter chats are a great way to connect with like-minded individuals in your industry or interests. Find relevant Twitter chats and participate by answering questions, asking your own, and engaging with other participants.

Participating in Twitter chats can help you gain new followers who are interested in your industry or interests, and can also help you learn more about your audience.

6. Collaborate with Others

Collaborating with other users on Twitter can help you gain exposure to their followers and vice versa. Look for opportunities to collaborate with other users in your industry or interests by guest tweeting, hosting a Twitter chat together, or co-creating content.

Collaborating with others can help you gain new followers and also build relationships with other users on the platform.

7. Share User-Generated Content

User-generated content (UGC) is content created by your followers that features your brand or product. Sharing UGC on your Twitter account can help you build a stronger relationship with your followers and also encourage them to share more content featuring your brand.

Make sure to credit the original creator of the UGC and ask for permission before sharing it on your account.

8. Use Twitter Ads

Twitter ads are a great way to reach a wider audience and gain more followers. You can create targeted ads that are shown to users who fit specific criteria, such as demographics or interests.

However, make sure that you’re targeting the right audience and that your ad is relevant and valuable to them. Otherwise, you may end up wasting your advertising budget without gaining any new followers.

9. Host Twitter Contests

Hosting a Twitter contest is a great way to encourage engagement and gain new followers. You can ask your followers to retweet your tweet, follow your account, or create user-generated content to participate in the contest.

Make sure that your contest is relevant to your brand

Continue Reading

Business

How to Get Famous on Instagram?

Published

on

By

How to Get Famous on Instagram?

Introduction

If you want to get famous on Instagram, it’s not as hard as you think. You just need to know what to do and how to do it. We have compiled some ideas and tips here so that you can go from being “nobody” on Instagram to getting more followers and likes than any of your friends!

Follow and Interact with Influencers in Your Niche

Follow and Interact with Influencers

Influencer marketing is a popular way to get your brand noticed on social media. By following influencers in your niche, you can see what they’re posting, and then engage with their content by commenting or sharing their posts. You can also reach out to them directly if you have questions about something they’ve written or posted online. If an influencer has reached out to you before, don’t hesitate to reach back! It’s important that both parties feel comfortable collaborating together so that both parties benefit from the relationship.

Post High-Quality, Engaging Content

Posting high-quality, engaging content is the most important thing you can do to get famous on Instagram. High-quality photos and videos are more likely to be shared and liked by your followers, which means they’ll show up in more people’s feeds. And the more likes and shares your post gets, the better its ranking will be in Instagram’s algorithm — which means it will show up even higher in people’s feeds than before!

So what makes an image “high quality”? It has good lighting (natural or artificial), sharp focus, and balanced exposure; it doesn’t have any obvious defects like dust spots or blurriness; it uses filters sparingly so as not to distract from its subject matter; it contains no copyrighted material from other people’s accounts…you get the idea!

If this sounds like too much work for you right now then don’t worry: just keep experimenting with different types of photos until something clicks with your audience!

Engage with Your Community

  • Respond to Comments

When you respond to comments, it shows that you care about your community and want to engage with them. This is a great way for them to feel valued and appreciated by you.

  • Post Photos of Your Followers

Posting pictures of your followers helps build a sense of community among all the users on Instagram. They will feel like they are part of something bigger than themselves, which makes them more likely to continue using the platform because they want to make sure to take advantage of everything happening within their own circles or other people’s circles!

Use Hashtags to Help You Get Famous on Instagram

Hashtags are a great way of getting more followers, likes, and comments. Hashtags help you get more views, interactions, exposure, and popularity.

Hashtags can be used in many ways to promote yourself on Instagram:

  • Use hashtags in your captions (the text description under each photo or video)
  • Use hashtags in the comments section of other people’s posts (this will increase engagement with those users)

Keep Your Bio Fresh And Attractive

Your bio is a great place to tell a story and let your followers know who you are. You can also include links to your other social media profiles, website(s), and email address in the bio section. If you have an Instagram profile then include it here too!

 Always Post Engaging Content

To get famous on Instagram, you must post engaging content. This means that your posts should be relevant to your target audience and style and theme should be consistent.

You can’t just post the same thing over and over again or use the same filters every time, either! It’s important to mix it up so that people who follow you don’t get bored with what they see in their feeds every day.

Concentrate on Your Niche

In order to get famous on Instagram, you need to focus on your niche. When you do this, it will be much easier for people in your niche to find and follow you. You also want to target a specific audience with hashtags that are relevant to them. This will help them find out about your account so they can follow it too!

If possible, try using consistent themes for each photo or video post. This can make things easier when posting content because then there isn’t as much thinking involved when deciding what photos/videos go together well enough for posting purposes; instead of worrying about whether or not something looks good next to another image (which might not look good), just post whatever comes naturally while still sticking with whatever theme(s) applies best here.”

Use Your Personal Picture

The first thing to do is take a personal picture. A professional one will not get you any followers and fame on Instagram, but a personal one can help your account grow in popularity.

You can use:

  • Your own picture
  • A professional picture
  • A view of you in your work environment (e.g., at a store or office)
  • A view of you in your home environment (e.g., cooking dinner for friends)

Or even better, post multiple photos per day!

Timeliness Matters

When posting, it’s important to consider the time of day and day of the week that you are posting. Posting at a time when your audience is online will help ensure that they see your content.

If possible, post at times when engagement rates are highest for both you and them–which may be different than what we think! For example, if most people in your target audience are teenagers or college students who sleep late on weekends (and therefore aren’t likely to be awake until noon), then it would probably make sense for you not to schedule any posts on Saturday morning because there would be no one around who could engage with them until after lunchtime.

Similarly, if many members from this same group tend not to get home from work until later in the evening (say around 8 pm), then posting something new before bedtime might not be optimal either since there would likely be little activity happening during those hours anyway (unless perhaps there were other reasons why someone might want their followers’ attention).

Focus on Your Target Audience

A good way to get noticed is by focusing on your target audience. Know who you’re targeting and what they want from your content, then deliver it consistently in a way that feels authentic to you. If this sounds like a lot of work, don’t worry: It’s worth it!

Once you have an idea of who might be interested in seeing your posts (for example, “young professionals” or “millennials”), start engaging with their accounts by liking or commenting on their posts. When someone interacts with yours this way, they’ll see that they’ve gotten your attention–and maybe even follow back!

Conclusion

As we’ve seen, there are a number of ways to get famous on Instagram. You can start by following and interacting with influencers in your niche, posting high-quality content that engages your audience and hashtags that help you reach out to new people who might be interested

Continue Reading

Trending