- 作者 | TPIsoftware
Dive Into API Governance—and Why It Should Be a Priority for Financial Services
The financial services ecosystem has become increasingly interconnected. As a result, stricter standard measures and regulatory requirements for API governance are being introduced to ensure API security, stability and compliance.
Driven by this trend, businesses are prompted to reassess their current API strategy, including how their API assets are maintained, how their services perform under heavy load, and how well their systems integrate with third-party applications.
Cataloging existing APIs with an API gateway often causes shadow APIs to slip through the cracks. To prevent this, it is recommended to leverage API discovery to improve the efficiency and accuracy of API inventory while staying aligned with requirements set by regulatory bodies.
Why is API Asset Management Important?
Today’s digital applications are becoming more complex and interconnected. This is where API sprawl occurs. Numerous APIs within an organization may go uncontrolled and become unmanageable.
Oftentimes, financial institutions are unaware of how many APIs exist within their ecosystem. With some APIs not being properly managed or monitored, it becomes difficult for organizations to know which APIs are usable and which aren’t.
APIs that remain undocumented or untracked become shadow APIs, which can pose risks to organizational security, such as:
- Unauthorized access tokens and stolen credentials: Especially APIs created during a partnership, which are often not decommissioned when the partnership ends
- Unsecured endpoints: Test APIs are left active and remain accessible to internal and external user
digiRunner helps prevent the above risks through API discovery, providing:
- Enhanced visibility: Ensure that all APIs are running within a controlled environment
- Improved security: Reduce risks through identifying, tracking and monitoring shadow APIs
- Full lifecycle API management: Oversee an API from the creation to retirement, making it easily discoverable and reusable
Challenges of Handling High-Volume Transactions
Financial services with interoperable capabilities facilitate seamless transactions and enhance user experience. However, a complex financial ecosystem presents challenges in terms of system performance and operational efficiency.
- Overloading: Increased API transactions affect API throttling and performance, leading to potential failures
- Difficulty in monitoring: Incomplete records and failure to conduct anomaly detection lead to violations and misalignment with best practices set by regulatory bodies
- Integration complexity: Inconsistent API formats and validation across heterogenous environments complicate the process of system integration
digiRunner helps manage access control, detect anomalies and handle high-volume transactions in a scalable, responsive and efficient manner while ensuring compliance with established standards.
- Traffic management and load balancing: Ensure API stability under heavy load
- Real-time monitoring and alerting: Promptly address issues when an anomaly is identified
- Integration across heterogeneous systems: Improve development efficiency through API standardization and automated integration
The Key to Building Successful Digital Ecosystem: OpenAPI
When discussing API management, it is not just about enabling communication between two systems—it’s about recognizing the APIs’ broader role in operational management, data security, performance and governance across the entire API landscape.
In today’s ever-evolving digital world, building a comprehensive mechanism that enables APIs to operate securely, reliably, and compliantly throughout their lifecycle is essential. And that’s where digiRunner comes in.
What digiRunner can do includes:
- Catalog API inventory: Maintain and keep track of all APIs, preventing cyber risks associated with shadow APIs
- Monitor transaction volume and load balancing: Ensure that APIs operate efficiently and stably under heavy load or burst traffic
- Optimize integration across heterogeneous systems: Simplify API integrations, reduce the development and maintenance burden for accelerated collaborative digital ecosystems
digiRunner ensures consistent and effective API governance that supports digital services across ecosystems. It aligns with Open Banking compliance in a way that maximizes value—helping organizations streamline development efforts, reduce security risks and drive innovation through seamless integration and interoperability.