The great bassist, Robert Trujillo, once said, “As long as there is communication, everything can be solved.” It is then safe to assume that a lack of communication can lead to frustration and even ruin.
Disparate systems are one of the great frustrations of today’s financial technology landscape. When a system is designed to operate distinctly, without exchanging data or interacting with others, information is trapped and can't be accessed by other systems that need it. These siloed systems are on the decline, as new technologies emerge that are designed to integrate with numerous others, yet many of us still depend upon the legacy technology today.
There is hope for these siloed systems, through data integration.
Data integration involves combining data residing in different sources, and providing users with a unified view. APIs provide interfaces between a software client and a database server, simplifying the process of providing that data for practical use.
For example, a lender used to have to push information into multiple different loan origination systems to get a single loan completed. These separate systems phrase questions in their own way, provide different outputs, and contain any number of proprietary functions that simply add frustration and loss of time to the loan officer. That is until the process is simplified by a digital lending platform that complies all those functions via an API gateway to make entering and retrieving data hassle free.
How many hours would your employees and customers save if the systems they use day in and day out communicated seamlessly with one another?
Core10’s experience in data integrations and API gateways can help you work faster and smarter.
We helped a major banking technology provider integrate multiple digital lending systems by building an API gateway, increasing market share and reducing time spent servicing each loan, while also reducing human error.
We are an Ellie Mae Pro Select partner, integrating digital mortgage tools with Encompass via the Developer Connect API to enable our clients to deliver innovative solutions that streamline operations and improve the bottom line.
Communication is the foundation of a healthy society and organization. Why not curate a pathway of communication for the systems your business uses everyday?
Photo by Bill Oxford on Unsplash