The main obstacle to wider use of application programming interfaces (APIs) by corporate treasuries is access. Treasury management systems are not designed to take in APIs because there is no data standard and use of APIs requires a lot of additional information in addition to static files.
A treasury management system (TMS) is built on a defined payload of data, explains Brett Turner, chief executive of open banking platform Trovata.
“An API is like connecting a firehose into that data pipeline and then turning it on,” he says.
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