APIs provide a way to connect applications and software systems. This connectivity can enable quick financial interactions, enhancing an organisation’s host-to-host digital ecosystem. API technology has multiple use cases, including enabling near-real time payment processing, improving fraud management and reconciliation, and facilitating foreign exchange (FX) management and non-card payments.

Managing multi-bank and third-party relationships

Organisations with more than one banking partner need a simple and secure way to connect systems, share information, and provide seamless experiences for their customers.

APIs are the primary entry point for accessing applications, whether the applications are an organisation’s own (Internal API) or a business partner’s. They allow banks, for example, to expose a menu of products and services to their clients anytime, anywhere through customised integration with treasury management systems, enterprise resource planning platforms, or other online applications.

Integrating bank information into existing treasury management systems

APIs that provide access to account and transaction data allow organisations to access all of their accounts in one place, using their existing treasury management systems. That means streamlined account management, real-time access to reports and data, and fewer manual reconciliations.

Improving cash visibility and forecasting

Better cash visibility and forecasting is a top priority for treasurers. According to recent survey conducted by Oliver Wymann*, just 44% of organisations report having full visibility of all of their accounts on a daily basis.

Near-real time payment notifications that assist with payment reconciliations and balance and transaction reporting are all solutions that APIs can enable, helping organisations make faster decisions with greater insight into their cash flow.

Here are four key reasons that organisation should explore APIs as part of their payment system

• Support as payments scale: 24x7 availability means APIs are always on and able to grow as an organisation grows 
• Make payments securely and quickly: APIs can support payments being sent dynamically and on demand in near-real time, keeping pace with customer expectations
• Drive greater operational efficiency through automation: Receiving real time reporting data and always-on notifications enables better reconciliation and increased productivity
• Reduce fraud risk and misdirected payments: Adopting industry standard protocols ensures APIs are a safe method for making payments

Expectations for the future of payments are high and APIs are key to bringing it about. Now is the time to be thinking about your payment strategy.

To provide customers with the building blocks they need to integrate their in-house accounting systems with the bank without the technical complexities, we‘ve built a suite of APIs for our host-to-host solution, Bankline Direct. Customers can transact instantly and get up-to-the-minute account information without leaving their enterprise systems.

To find out how our host-to-host solution could drive innovation for your treasury, visit our product page:

Discover Bankline Direct APIs

Bankline Direct is available to NatWest business account customers who meet the specific eligibility criteria. Fees apply.

*Research conducted by Oliver Wyman for NatWest, 2022