The demand for APIs in financial services has never been more evident. As technology vendors diversify their offerings, Linedata envisions a connected financial data ecosystem, addressing pain points with flexibility and affordability. Discover the vision ahead and the transformative approach we're embarking on.
- The industry pulse and evolving API trends
- Client pain points: The call for a seamless API experience
- Linedata's vision and the road ahead
Discover the fast-evolving API landscape in financial services.
Linedata is pioneering solutions tailored to address client-specific challenges.
The Market Pulse and Evolving API Trends
The financial world's accelerated adoption of APIs is reshaping the landscape. The reasons are clear: reduce upgrade complexity, automation, and meeting growing client demands. This shift underscores the value of on-demand information and integrated data applications for pivotal investment decisions.
This chart shows motivations for adopting APIs in financial services. The data is from Linedata's recent API client survey, if you have not yet, click the link to provide your feedback.
Clients gravitate towards business logic/process (read-write) APIs over data (read-only) APIs, seeking greater power and functionality. They also value other elements of their operational ecosystem:
- Intelligent automation for routine tasks
- Customization capabilities
- Transparency in backend data and processes
- Real-time data
- Strong security measures
Client Pain Points: The Call for a Seamless API Experience
Linedata's clients articulate a profound need for flexible, cost-efficient API access. Many desire integration with third-party systems, with comprehensive documentation easing API interactions. Linedata’s existing SDK and APIs have served our clients reliably over the years. Now, in keeping with the evolving requirements of the industry, we're advancing API development and enhancements to meet the needs of our clients and the market. It’s no surprise that clients hope to reduce reliance on manual processes and high costs, specifically around testing multiple database customizations, associated with software upgrades.
Client survey results and discussions emphasize key API workflows:
- Creating proposed orders via an AMP Portfolio Management API.
- Running pre-trade compliance using an AMP Compliance API.
- Directly facilitating placements and cancellations through an AMP Trading API.
- Booking trade executions back into Linedata systems through an AMP Post Trade API.
This chart illustrates client demand across different AMP Domain APIs. The User Impact Score indicates the level of client need: a higher score denotes a more significant and widespread demand among clients.
Linedata's Vision and The Road Ahead
Linedata sees challenges not merely as obstacles but as gateways to innovation. Responding to the clear pain points expressed by our clients, our vision is to build a revamped, seamless API experience that addresses the need for flexibility, cost efficiency, and effortless integration with third-party systems. Then APIs will weave the world’s financial data together and nurture growth.
At Linedata, we're meticulously building out our AMP APIs, based on concrete market research and invaluable client dialogues. These offerings, fortified with Linedata's legacy of business logic, and supported by a rich developer portal, will serve third-party developers and dovetail with our front-end modules. For example the new API for the Portfolio Management domain facilitates sending, updating, and deleting proposed orders. By embracing modern APIs with GraphQL, we're focused on providing all our clients with a unified user experience and effective, adaptable operations for their next stage of growth.
As the demand for comprehensive and efficient APIs in financial services surges, Linedata is committed to addressing this need head-on. We're not just adapting to change; we're leading it. Join us on this transformative journey, as we redefine the financial data ecosystem, one API at a time.
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About the author, Matt Chau
Matt Chau is a senior product manager in the FinTech domain, with a keen eye on the evolving API landscape. Outside the world of finance, he enjoys strategy in chess and board games.
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