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Understand How To Create a Successful API-Based Ecosystem as per Gartner Research

Today, many banks are turning to API-based ecosystems to innovate faster by inviting partners and independent developers to build complementary solutions on their banking platforms through open APIs.

In this report, you will learn about the four steps that are critical to making an API-based ecosystem successful:

  1. Validate the ecosystem model
  2. Cost-justify the ecosystem
  3. Promote the ecosystem’s value
  4. Have the courage to not create an ecosystem

You can either create your own ecosystem or leverage an existing platform. To reap the benefits of APIs without incurring the risks, time and costs that come with developing their own ecosystem, banks are adopting Mambu’s SaaS cloud-banking platform. Built for composable banking, this API-based platform empowers banks like yours to achieve the agility, flexibility and scalability you need to not only keep up but also thrive in today’s digital economy.

Gartner, ‘To Create a Successful API-Based Ecosystem, Look Before You Leap’, John Santoro, Mark O’Neill, April 28, 2021