18 October 2017

Hellenic Bank switches on API app store

29 September 2017  |  7631 views  |  0 hands at a keyboard

Hellenic bank has opened an app store for developers to showcase products built using the Cypriot bank's proprietary APIs.

Building on the release of six public APIs for developers to use last April, Hellenic’s new API development environment lets developers trial the new apps they build using data provided by the bank and provides an entry-point for live production.

Initial figures reveal that over four months there have been 395 registered developers, 155 registered apps, a transaction value of EUR 78 million and 153,000 calls to the back end through the new API environment.

"It lets non-banks quickly build and offer financial products without having to deal with banking regulation and set-up requirements," says Hellenic's group head of digital banking and innovation, Natasha Kyprianides. "And with the clear interface, support and documentation we’ve provided online, we think third parties, even those who haven’t done anything like this before, will be able to create things that consumers genuinely want."

The first apps to go live on the bank's business Web channel will provide integration to Enterprise Resource Planning systems, eliminating the traditional B2B need to exchange files or build customised private APIs per customer. Accessible via existing online banking credentials, customers will be able to activate already-integrated apps and platforms of their choice via the marketplace with just a click.

The bank is encouraging ERP vendors to join the production line and plug in their systems via the app store in a move that may drive more customers to Hellenic Bank under a potential revenue sharing deal.

Kyrpianides says Hellenic Bank is building an ecosystem of the most popular ERP platforms and investing in motivating these partners to integrate with their APIs.

"Integration with an ERP provides a perfect fit with the customer’s current business processes," she says.

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