Why Lufthansa Group is opening up its APIs
Lufthansa Group is increasingly turning to APIs as a way to expand its digital reach, cut out aggregators and diversify its direct sales channels.
Lufthansa Group is increasingly turning to APIs as a way to expand its digital reach, cut out aggregators and diversify its direct sales channels.
When Salesforce announced in March its plan to acquire API platform developer MuleSoft for US$6.5 billion it said there was potential to turn MuleSoft (estimated FY18 sales $415 million) into a $10 billion business.
“This is an evolutionary leap in how banks, payment providers, and lenders can interact with their small business customers through Xero,” says Ben Styles, general manager of financial services products.
As one Australian Securities and Investments Commission employee put it at a RegTech event in Sydney earlier this week: “If fintech start-ups are tech rich and the banks are data rich then I think it’s fair to say that ASIC is text rich. Our regulatory guidance is all text based.”
"Partnerships are key in this rapidly evolving marketplace," says Melissa Steward, Westpac NZ’s Head of Global Transactional Services and Enterprise Payments.
APIs are probably the most critical component in digital business design and has the power to unlock new revenue channels. This whitepaper looks at a framework that can help eBusiness executives cut through the confusion, identify how APIs can add value to business, and collaborate with their IT management colleagues in building an API strategy that will power their digital business transformation.