COVID-19 has expedited the growth of the digital economy and turned the idea of a cashless society into a reality. Individuals with no prior exposure to FinTech products are now accessing mobile banking, using their smartphones as payment devices, and sending money via text messages. Many of the use cases for digital payments and banking were unheard of only five years ago, and the underlying powerhouse of these use cases are APIs.
An API is an Application Programming Interface, which is a bit of code that enables the apps that we create at Vog App Developers to communicate with external systems and databases to make for a seamless user experience, enabling our users to do more. In terms of the digital economy, APIs are what allow your app to connect with external banking systems, access card and payment providers, and display transaction data to your customers. With the exponential growth of FinTech companies and applications alongside the myriad of other industries that use APIs, the global API management market is expected to grow at a CAGR of over 22% during 2019-2024.
So what does this mean for you as a developer? Well in order to keep up with the evolution of the industry, you need to be comfortable working with and leveraging APIs to ensure your applications provide more value to your users than your competitors. If you are able to effectively leverage APIs, you are also able to focus on the main functionality of your application, while leaving other areas of expertise to external companies.
Want to kick your knowledge of APIs into high gear? Check out Launchpad by Vog, where during the course of four months we will train you to be able to leverage any API for any use case. Coupled with Launchpad’s industry leading trading program, you will be ready for any intermediate developer position upon graduation. Click the link for more information.