Here is our FAQs section to help you to better understand all about our product.
API banking is a collective set of rules and protocols that allows customers access to a bank’s integrated financial services via a third-party platform like FidyPay. These platforms function in an automated manner on behalf of the bank within the internal ERP or diverse products using APIs.
1. The bank opens its core banking systems for FidyPay.
2. FidyPay integrates the open banking APIs to connect with the bank’s core banking system
3. FidyPay requests API calls to get access to the required information from the bank’s servers and execute the needed operations.
1. Building a customized interface for your customers to carry out banking functions online in real-time, 24/7.
2. Instant banking transactions like transferring funds through RTGS, NEFT, or IMPS.
3. Highly scalable and growth-oriented interface to accommodate higher transaction rollout any day.
4. Bank account verification and validation in real-time to confirm the account holder’s name and account number before sending the money.
5. Integrating with multiple banks and employing intelligent algorithms to reroute transactions through alternate banks if the originating bank’s server is unresponsive.
A higher number of transactions per day, easy reconciliation in case of failed or reverse transactions, seamless integration with various banks’ and payment methods’ reporting formats, and elimination of businesses’ dependency on a single bank account.
Yes Bank, HDFC Bank, Axis Bank, SBI Bank, ICICI Bank, and more are being added with each passing day.