NEW REPORT: APIs As The Great Credit Equalizer

The rivalry that banks and FinTech firms might have experienced in the past now appears to be behind them. Both sides of the financial landscape appear ready to collaborate, with APIs acting to bridge the divide and to facilitate financial innovations.

However, APIs are not only being used to promote greater collaboration between banks and FinTech firms. The October B2B API Tracker highlights how APIs are also being used to disrupt small- to medium-sized business (SMB) operations and expand financial inclusion to underbanked populations.

Around The B2B API World

One recent partnership between a major U.S. bank and a FinTech, for example, aims to improve the pace of B2B payments.

TD Bank recently teamed up with Bottomline Technologies to offer the bank’s business customers access to Visa Payables Solutions. The move is designed to streamline payables supported by payment cards, ACH and checks that are issued by payables departments.

SMBs are also experiencing big changes in the way they access funds because of APIs.

In the U.K., for example, SMBs recently gained faster access to the cash they earn from their sales. Payment solution provider Paysafe partnered with Ingo Money to launch a suite of services aimed at enabling same- and next-day settlement options and allowing SMBs to have payments delivered to debit cards linked to Paysafe accounts.

Online sellers are also seeing the pace of cash flows speed up. Payment solution provider Payability recently announced that its Seller Visa Card is now available to eCommerce merchants, enabling SMBs to get faster access to their marketplace payouts. Payability said the solution, made available through the open API platform Marqueta, enables merchants to gain immediate access to their funds instead of waiting weeks.

Spreading Financial Inclusion With APIs

While some aim to use APIs to enhance the way businesses access money, Swedish FinTech Instantor recently made its BankAPI available to over 300 banks in 25 countries as part of its World Domination Starter Kit initiative (WDSK). The purpose of WDSK, according to Instantor CTO Helene Westerlund, is to promote financial inclusion on a global scale.

In the October feature story, Westerlund spoke with PYMNTS about the company’s efforts to “democratize financial services” by using APIs to bring underbanked populations worldwide into the modern banking infrastructure.

About The Tracker

The B2B API Tracker serves as a monthly framework for the space, providing coverage of the most recent news and trends, along with a provider directory highlighting the key players contributing across the segments that comprise the B2B API ecosystem.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.