ICICI Bank, a leading private bank in India, has launched an API portal. The portal includes 250 APIs that allow partners to build innovative banking solutions. The company sees the portal as the next step in moving India towards the Open Banking model that continues to expand around the world.
Severe lapses in security pose a massive risk to those who bank via mobile device. Researchers recently revealed that the mobile apps of 30 financial services firms could be compromised in as little as eight minutes thanks to unprotected source code, sensitive data, and weak API keys.