This archive report was first published on 13 July 2020.
Co-op Bank Unveils New APIs to Foster Partnerships Among SMEs ¶
On July 13, 2020, Co-op Bank of Kenya announced the launch of its Application Programming Interfaces (APIs) to promote partnerships and innovation among Small and Medium-sized Enterprises (SMEs).
The bank's APIs, dubbed Co-op Connect, aim to enable corporate and Sacco customers to add value to their mobile apps and web services by publishing banking services.
Co-op Bank's APIs fall into two categories: account information services APIs and transactional APIs.
According to the bank, the transactional APIs enable functionalities such as internal funds transfer, Pesalink send to account, instant notification service, and sending money from a Co-op Bank account to M-Pesa wallet.
The account information services APIs, on the other hand, enable functionalities such as account balance inquiry, account transaction inquiry, account mini statement, exchange rate enquiry, account validation, and status enquiry.
Organizations and FinTechs that have interacted with and published the Co-op APIs have praised them for being simple and easy to use, accessible from web or mobile applications, safe and secure, and easier and faster to partner with.
Co-op Bank believes in co-creation and innovation that enables people, businesses, and society to grow. The bank aims to deliver a seamless customer experience by exposing data with its APIs.
Before launching an innovation, Co-op Bank ensures that it weighs the business needs and the prevailing market situation versus the opportunity.
Co-op Bank's APIs can be accessed from the following link: https://developer.co-opbank.co.ke:9443/store/apis/home
