NEW YORK, Sept 9 (Bernama-BUSINESS WIRE) — FinLync, a privately held, global fintech company transforming corporate finance and treasury offices by aggregating global banking APIs to deliver embedded real-time payments and cash management, today announced that it has launched its inaugural Power Rankings Report for Corporate Bank APIs. The report delivers unprecedented transparency into the status and quality of premium bank APIs being developed for different use cases across the global banking industry today. In tandem with its Bank API Catalog, FinLync provides the industry with the most comprehensive resources on corporate bank API availability and performance currently available.
This report comes amid a broad acceptance in the banking community that API technology is replacing legacy forms of corporate bank connectivity. This shift is critical, as much of the innovation consumers have come to expect from their banks, such as a real-time view into their account balance, has not translated to corporate finance, where many treasury teams are still dependent on day-old bank statements to see their recent cash positions. The majority of global banks are either live with or piloting fundamental API categories covering cash visibility and payments, with many looking to expand into more unique and embedded market offerings. Simultaneously, corporates are realizing how premium bank APIs can alleviate pain points, such as a lack of payment traceability, across the treasury organization.