Roberto Medrano, Executive Vice PresidentThe Banking, Financial Services, and Insurance (BFSI) sector is experiencing massive disruptions driven by administrative and regulatory changes, with pressure from FinTech startups. The banking industry has recognized that providing APIs internally and externally are virtually mandatory steps for its survival, to effectively manage their siloed legacy systems while adhering to banking security standards and regulations. “Our comprehensive suite of API Management, API Security, and Integrated SOA Governance solutions enables businesses to accelerate digital transformation by implementing APIs as strategy and by securely extending their reach across multiple channels—mobile, cloud and IoT,” says Roberto Medrano, Executive Vice President, Akana. “We enable enterprises to share data as APIs, connect and integrate applications, drive partner adoption, and provide intelligent insights into their business.”
Akana has been building products that address the banking industry’s critical pain points starting with SOA Governance and web services and then extending that line to API Management and API security. “Our API Management product is used by four of the top five banks,” emphasizes Medrano. Akana offers an API Platform for the secure creation, delivery, and management of highly scalable, reliable APIs that allow teams to create multiple applications with enhanced security, regulatory compliance, and quality of service commitments. “The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, a suite of on-premise products, and as a hybrid deployment,” says Medrano. “We have addressed the need for deeper understanding of customer data by offering advanced analytics and insights.” The company also offers API Lifecycle which aligns various API programs with strategic business objectives ensuring enterprises build the right services at the right time and thereby achieve a quicker return on investment.
One of Akana’s prominent banking customers needed help with their API Management, which was being handled manually. With Akana’s API Management platform, the bank automated all the necessary partner and developer engagement steps. This streamlined the process with the partner and developer on-boarding being done in days instead of weeks.
We enable financial enterprises to share data as APIs, connect and integrate applications, drive partner adoption, and provide intelligent insights into their business
Akana has been working closely with Fortune 1000 firms alongside medium size businesses—gaining the best of both worlds in terms of customer experience with numerous competitive advantages.
Akana’s highly-secure platform enables safe and rapid connections between BFSI firms and customers, as they are a PCI DSS 3.0 Level 1 certified service provider. According to Medrano, BFSI firms are being forced to open up their systems to foster innovation and create solutions to improve or enhance the customer or banker experience. The company uses secure development practices with source code scanning built-in for continuous delivery processes, combined with regular automated and manual penetration testing to ensure the security of the platform itself. “Our products have unmatched flexibility, scalability, high availability and performance. Our security features include IAM integration, PCI Compliance, code scanning, pen testing, threat prevention and DoS attack prevention,” affirms Medrano. Akana’s financial services solution also offers a global set of data centers hosting API endpoints, 24/7 operational management with 99.99 percent uptime, auto-scaling on demand, global CDN with SSL and certificate validation, and global traffic management.
The company offers agile-governance and DevOps and lifecycle integration, alongside the largest library of Out-Of-Box runtime configurable policies in the market. Having reached pivotal leadership benchmarks in terms of industry and customer recognition, Akana is prepped for the challenges of tomorrow. For the days to come, Akana will continue to advance their cloud technologies with improved functionality and better user interface while enhancing their on-premises products with next generation capabilities. “We have pulled out the stops to prepare ourselves to execute on the next level of what we see as market needs meaning new products and services for the days to come,” concludes Medrano.
For more information, visit www.akana.com/solutions/fintech-api