Good general discussion of the architecture. Good choices can make API possible and an asset. In McKinsey.
What it really takes to capture the value of APIs
By Keerthi Iyengar, Somesh Khanna, Srinivas Ramadath, and Daniel Stephens
APIs are the connective tissue in today’s ecosystems. For companies who know how to implement them, they can cut costs, improve efficiency, and help the bottom line.
Application programming interfaces (APIs) were once largely limited to technical domains but have now become a significant engine of business growth. As the connective tissue linking ecosystems of technologies and organizations, APIs allow businesses to monetize data, forge profitable partnerships, and open new pathways for innovation and growth.
Early adopters across industries are already using APIs to create new products and channels and improve operational efficiency. Within the automotive industry, for instance, APIs are used to embed efficiency data, driving statistics, route information and real-time alerts into dashboards. Some retailers are using APIs to set up multi-brand shopping platforms, track inventory, and help consumers locate stores. And a handful of banks are partnering with fintechs and retailers, among others, to develop APIs that help customers integrate banking data into bookkeeping and investment software, and provide faster internal access to a range of account information. .... "
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