API (Application Programming Interface)

A digital bridge that connects diverse systems, the API is a set of rules and protocols that enables software applications to communicate, sharing information and functionality in a harmonious exchange of data.

Example

A travel booking application might use APIs from various airlines, hotels, and car rental companies to provide users with a seamless platform for planning and booking their trips. By accessing the APIs of these providers, the application can gather real-time availability, pricing, and reservation data, creating a convenient one-stop-shop for users to arrange their travel plans.

Related topics:

Collections in consumer lending Maximizing Debt Recovery with Cutting-Edge Tools and Strategies The process of implementing a decision engine What is a decision engine?