FinTech utilizes Application Programming Interfaces (API) to enable software programs to communicate and exchange data without human inputs. Cloud computing also plays a crucial role in supporting the delivery of online services in the financial technology sector.
Application Programming Interfaces (API) is the type of software technology used in FinTech to enable software programs to communicate with each other and exchange data without human inputs. APIs allow different software applications to interact seamlessly, facilitating data sharing and enhancing the efficiency of financial services.
For instance, in the context of FinTech, APIs can be used to integrate payment gateways with e-commerce platforms or allow financial institutions to access real-time market data for investment decisions. APIs play a crucial role in enabling seamless communication and data exchange in the financial technology sector.
Cloud computing is another integral technology in the digital ecosystem that supports the delivery of online services, including FinTech applications. Cloud services provide scalable infrastructure and storage solutions that are essential for the secure and efficient functioning of financial technology services.
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