India's Icici Bank has opened an online marketplace comprising nearly 250 APIs for third party developers to connect to and communicate with the bank's applications.
Available to prospective partner companies, APIs are available across an array of categories including payments and collections, accounts and deposits and cards and loans.
Applications developed with the bank's APIs are tested in a sandbox environment upon completion of an NDA with the bank. Additionally, the portal incorporates a detailed workflow for shepherding each application to the final production stage.
Anup Bagchi, executive director, ICICI Bank says "hundreds" of developers are already onboard and working within the marketplace.
"We believe that the ‘ICICI Bank API Banking Portal’, will help foster rapid innovation and co-creation with partner," he says. "It will also boost productivity for businesses, as they can now partner with us in a short span of time ranging from just a few weeks to few days as compared to the few months taken earlier."