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With the rise of financial technology startups (so called fintechs) and the adoption of open banking business models, the banking industry is witnessing revolutionary changes. To adopt these revolutionary changes, banks are collaborating with fintechs to develop innovative products and services for the customers. Banks, which are ruled by conventional practices, have been using very secure and closed computer-based systems whereas building a fintech ecosystem requires integration to countless 3 rd party software services (so called APIs) in a secure and robust way. This paper discusses the design and development of a Fintech API Gateway in terms of business needs and technical challenges. Additionally, business requirements, technical design decisions, development challenges and key performance metrics of the API Gateway are discussed and explained in detail.
Ünsal et al. (Tue,) studied this question.