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Video transcript

Digital Disruption - Andrew Cranwell

Andrew Cranwell:

So, API is an application program interface. And really these things are the magic glue that bind the internet together today. An API allows you to connect services across devices, systems, and applications.

So, a great example is someone down at Uber. So, Uber actually uses three APIs. It uses location, maps, and payments. So, location comes from your phone, so it always knows exactly where you are. The payments come through Braintree, so it has that focus moment when you step out of the car and the money just goes. Then, the maps come from Google. So, obviously, you always know where you are and where the driver is that's coming to pick you up.

APIs are everywhere. And you use them all over the place today, but you probably don't even realize it. So, whether it's posting a favorite picture to Instagram or buying an extra load of shopping off Amazon, it's actually APIs in the background that are making all of these services work.

So, APIs are used by developers. And developers are a brand-new type of customer for the bank to deal with. So, we have everybody from hobbyists through to scale players in the market. And they're using all sorts of services from payments through to loan quotes. And with developers, you have to get things right.

So, they're looking for a few key things. Ease of use, it's got to be quick to sign up and easy to use an API. They're looking for interesting services that help them drive their applications and their use. And so, you always have to put yourself back in their shoes about how they want to interact with the bank. And, of course, they expect some things at the bank, as well. So, they're expecting, you know, standard banking services and other things.

So, APIs are disruptive because they represent innovation and change. For the bank, we've actually had to change the way that we manage our products.  And APIs are products in themselves. So, you offer them much in the same way you used to as a current account or loan. And for companies and for developers, they're disruptive because they help them innovate in a new way.

So, imagine putting sort of Barclays' technology at the heart of your application. That's exactly what we can do with the power of APIs. So, whether it's visibly, such as with a loan quote or something on Money Super Market, we can see the end result of the API. It's your amount that you can borrow from the bank.  Through to invisibly, where you're processing payments in the background and just being a part of that flow of information. It really just unlocks change across the industry and helps bigger players like Barclays and others to actually disrupt themselves and make themselves more efficient and helps players operate in a new way where they can connect digitally and offer new services to their customers.

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