What does API stand for?

The term API stands for Application Programming Interface. An API serves as a set of rules and protocols for building and interacting with software applications. It enables different software programs to communicate with each other, acting as an intermediary that allows developers to access certain functions or data from a service, operating system, or other applications without needing to understand the underlying code.

In the context of finance and technology, APIs are particularly valuable as they allow for seamless integration between financial software systems, facilitate data sharing, and enable the development of applications that can interact with various financial services.

Understanding APIs is crucial for those in the financial industry, as they play a significant role in automation, data exchange, and enhancing user experiences by connecting different financial platforms and services efficiently.