at Financial Technnology Year
Please contact them if you have any questions.
Features in API Management
for IT and Infrastructure
Systems for developing, managing, securing, and monitoring APIs that connect banking systems internally and with external partners.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
API Gateway Functionality
Facilitates efficient API traffic management, request routing, and protocol transformation.
- API Aggregation
- Combines multiple API calls into a single request/response.
- API Mocking
- Ability to simulate API responses during development and testing.
- Advanced Traffic Shaping
- Customizable traffic shaping rules for granular control.
- Caching
- Caches API responses to reduce backend load and latency.
- Content-Based Routing
- Routes requests based on content type or header values.
- Failover Support
- Automatic rerouting of traffic in case of backend failure.
- Load Balancing
- Distributes incoming API traffic among multiple backends.
- Protocol Transformation
- Converts between different protocols (e.g., REST, SOAP, gRPC).
- Request Routing
- Routes incoming API requests to appropriate backend services.
- Timeout Configuration
- Customizable timeouts for upstream requests.
- URL Rewriting
- Ability to rewrite request URLs on the fly for routing efficiency.
API Lifecycle Management
Comprehensive tools for managing APIs from creation through retirement.
- API Design Tools
- User-friendly tools for designing APIs (specifications, linting, etc).
- Approval Workflows
- Multi-step approval for API publishing or promotion.
- Automated Deployment Pipelines
- CI/CD pipelines for consistent API release processes.
- Automated Testing Integration
- Integrates with automated test frameworks.
- Change Management Logging
- Monitors changes and notifies stakeholders.
- Deprecation and Sunset Policy Enforcement
- Controlled migration paths and communication for deprecated APIs.
- Lifecycle Stages Tracking
- Defines and manages API states: development, testing, production, deprecated.
- Rollback Mechanism
- Quickly revert to previous stable versions.
- Version Control
- Tracks changes and rollbacks for API definitions and implementations.
API Security
Ensures all APIs are protected from unauthorized access and attacks, and maintain compliance standards.
- API Key Management
- Supports creation, issuance, and life-cycle management of API keys.
- Access Control Lists (ACLs)
- Ability to define detailed access permissions for API consumers.
- Audit Trails
- Tracks and stores all API access and activity logs for compliance and debugging.
- DDoS Protection
- Protection mechanisms against Distributed Denial of Service attacks.
- Data Encryption
- Supports encryption of data in transit and at rest (e.g., TLS, HTTPS).
- IP Whitelisting/Blacklisting
- Enable or restrict API access based on user IP addresses.
- JWT (JSON Web Token) Validation
- Capability to validate JWTs for API access management.
- Mutual TLS (mTLS)
- Supports mutual TLS authentication to secure API connections.
- OAuth 2.0 Support
- Ability to use OAuth 2.0 protocol for secure authorization.
- Rate Limiting
- Limits the number of requests a client can make to avoid abuse.
- Regulatory Compliance Certifications
- Supports and maintains compliance (e.g., PCI DSS, PSD2, GDPR) for financial data and operations.
- Security Patch Management
- Automated updates for emerging threats and vulnerabilities.
- Throttling
- Ability to control bandwidth and request frequency.
Cost Management and Optimization
Tools and features that assist with the forecasting, tracking, and control of costs arising from API usage.
- Budget Alerting
- Sends notifications if API usage approaches or exceeds budget.
- Cost Analytics and Forecasting
- Provides insights and trends in API-related expenses.
- Granular Cost Allocation
- Assigns costs to departments, projects, or teams.
- License Management
- Tracks feature/component licensing and compliance with agreements.
- Pay-as-you-go Support
- Ability to implement flexible pricing models based on real usage.
- Quota Management
- Enables the enforcement of usage quotas for users/applications.
- Resource Optimization Recommendations
- Suggests ways to optimize API and infrastructure usage.
- Usage-Based Billing Support
- Cost tracking for internal/external API use, supporting chargebacks.
Developer Experience
Tools and features that enhance the usability, documentation, and onboarding of API developers.
- API Sandbox Environment
- Safe, limited test environment for developer experimentation.
- API Subscription Management
- Supports subscription plans for API access levels.
- API Usage Analytics for Developers
- Provides developers with real-time metrics for their API usage.
- Change Log Communication
- Automated notifications on API updates and version changes.
- Code Samples
- Includes quick-start code samples for faster developer onboarding.
- Comprehensive Error Codes
- Clear and consistent error messages with codes and explanations.
- End-to-End Testing Tools
- Supports thorough testing across API endpoints.
- Interactive API Documentation
- Auto-generated documentation with try-it-out features (e.g., Swagger, OpenAPI).
- SDK Generation
- Automated creation of SDKs in multiple languages for developers.
- Self-Service Portal
- Portal for onboarding, documentation access, and API key management.
- Support Ticketing Integration
- Integrated support system for technical queries and issues.
Integration and Interoperability
Enables seamless integration with internal systems, third-party platforms, and legacy infrastructure in banking.
- API Orchestration Capability
- Orchestrates multiple APIs and business processes.
- API Versioning
- Manages and routes multiple versions of APIs seamlessly.
- BPM/Workflow Engine Integration
- Interoperates with business process management tools.
- Enterprise Service Bus Integration
- Compatible with ESB solutions for orchestration and mediation.
- Event Streaming Support
- Supports event-driven architectures (e.g., Kafka, MQ).
- Legacy System Connectors
- Connects easily with mainframes and legacy banking systems.
- Multi-Cloud Support
- Deployable on different cloud platforms and hybrid architectures.
- Service Discovery Integration
- Integrates with service registries (e.g., Consul).
- Standard Data Format Support
- Understands and processes JSON, XML, CSV, and more.
- Support for Multiple API Protocols
- REST, SOAP, WebSockets, gRPC compatibility.
- Third-party Integration Marketplace
- Pre-built integrations with common fintech and regtech services.
Monitoring and Analytics
Comprehensive monitoring, logging, analytics, and alerting to ensure APIs are healthy and performant.
- Alert Notification System
- Sends alerts for threshold breaches and downtime.
- Anomaly Detection
- Automatic detection of unusual API behavior.
- Custom Dashboards
- User-configurable dashboards for monitoring APIs.
- Error Rate Monitoring
- Tracks percentage of API requests resulting in errors.
- Health Checks
- Automated and on-demand status checks for API endpoints.
- Historical Data Retention
- Duration for retaining historical API usage and performance data.
- Integration with External Monitoring Tools
- Supports integration with platforms like Splunk, Grafana, Datadog.
- Log Export and Archival
- Export logs for long-term storage and regulatory compliance.
- Real-Time Traffic Monitoring
- Provides live data on API usage metrics and performance.
- Request Latency Tracking
- Measures and reports time taken to process API requests.
- SLAs and Uptime Reporting
- Service Level Agreement and uptime tracking for each API.
Operational and Maintenance Features
Capabilities that aid in day-to-day operations, troubleshooting, upgrades, and maintenance.
- Automated Backups
- Schedules and manages regular backups.
- Automated Configuration Management
- Tools for managing configuration drifts and automating changes.
- Disaster Recovery Support
- Failover and restore processes for high system resilience.
- Maintenance Window Scheduling
- Automated notifications and controls for system maintenance.
- Remote Management API
- API for managing infrastructure remotely.
- Rollback Capabilities
- Quick reversion to previous system states after failed changes.
- Self-Healing Mechanisms
- Automated corrective actions for detected failures.
- Zero-Downtime Upgrades
- Ability to patch or upgrade system components without impacting users.
Regulatory and Compliance
Ensures API environments adhere to regulatory requirements specific to the banking sector.
- Audit Logging
- Comprehensive, immutable records of every API activity.
- Automated Compliance Reporting
- Generates reports to demonstrate compliance.
- Consent Management
- Tracks and enforces customer consent for data sharing.
- Data Residency Controls
- Enforces policies on where data can be physically stored.
- GDPR Compliance
- Supports mechanisms for data rights and protection under GDPR.
- PCI DSS Support
- Meets requirements for processing and storing payment card data.
- PSD2/Open Banking Readiness
- Supports open banking standards and frameworks.
- Privacy Controls
- Strict controls for personal and sensitive data processing.
- Retention & Deletion Policies
- Automates retention and deletion per regulatory timelines.
Scalability and Performance
Designed to handle high volumes of concurrent requests and scale dynamically to match demand.
- Auto-Scaling Policies
- Automatic scaling based on real-time demand.
- Concurrent Connection Limits
- Maximum number of simultaneous client connections supported.
- Fast Failover and Recovery
- Quickly re-routes traffic on failure for uninterrupted service.
- Geo-Distributed Deployments
- Supports deployments across multiple geographic locations.
- High Availability Architecture
- Redundant components and failover to maximize uptime.
- Horizontal Scalability
- Ability to add nodes and balance load automatically.
- Load Testing Tools
- Includes tools for stress and performance testing APIs.
- Low Latency Processing
- Optimized to minimize request/response latency.
- Session Persistence
- Ability to maintain session/state across distributed systems.
- Throughput Capacity
- Total number of API requests handled per second.
User and Access Management
Robust user identity, roles, and access control for internal and external stakeholders.
- Access Review and Recertification
- Periodic verification of user access rights.
- Delegated Administration
- Allows specific user groups to manage access.
- Entitlement Management
- Assign and manage granular entitlements to users.
- External User Federation
- Allows federated login for third-party or partner users.
- Multi-Factor Authentication (MFA)
- Enforces strong two-factor user verification.
- Role-Based Access Control (RBAC)
- Granular user permissions based on assigned roles.
- Session Management
- Controls and monitors user session durations and activity.
- Single Sign-On (SSO)
- Integration with enterprise authentication solutions.
- User Provisioning Automation
- Automated creation, update, and deactivation of user accounts.