Bahwan CyberTek wins Asian Technology Excellence Award for Open API solution

The company was recognised in the API - Banking category for the solution’s security and efficiency.

Global digital transformation leader Bahwan CyberTek has been given the India Technology Excellence Award 2024 in the API - Banking category for its innovative Open API Solution. This platform serves as a centralised hub where developers can access, explore, and interact with an organisation’s APIs, providing a seamless integration experience.

Currently being implemented at a major bank in India, BCT’s Open API Solution empowers banks to monetise their APIs whilst offering partners and developers a streamlined process for integrating with these APIs. The platform is designed to align with the bank's website theme and seamlessly integrates with existing systems, offering a hassle-free experience with features like self-sign-up and simplified API testing.

A key advantage of BCT’s solution is its compliance with the Payment Services Directive 2 (PSD2) regulations, ensuring secure and efficient handling of financial data. The platform also supports robust Consent Management, enabling users to control and manage their data permissions with ease, fostering trust and transparency.

Additionally, the portal features engaging API analytics, providing insightful data on API usage, performance, and trends. This allows banks and partners to optimise their API strategies, make data-driven decisions, and enhance the overall user experience.

Some of the other key features of the open API portal include comprehensive API documentation, monetisation and cataloguing capabilities, developer registration and management, integration with banking systems, real-time transaction feed analysis, visual exploration and monitoring, and data caching, amongst others.

The portal acts as the first point of contact for partner developers and serves as a one-stop solution for discovering and monetising banking APIs. It accelerates the piloting of new ideas within the partner ecosystem, enhances personalised customer experiences, and unlocks new business opportunities. API monetisation gives revenue generation opportunities to the banks.

Fully customisable, the platform integrates seamlessly with the client's existing look and feel, making it versatile enough for use across various domains such as banking, financial services, insurance, transportation, e-commerce, and more.

Since its deployment, the Open API Solution has significantly reduced time to market, generated revenue from APIs, decreased development and management efforts by 40%, and facilitated quick and easy onboarding for partners.

“Banks are rapidly adopting bold digital solutions to create new business models, generate new revenue streams, and enhance customer experiences. This platform offers businesses across various sectors the flexibility to securely expose their APIs to the public, enabling them to drive revenue growth,” said Mohsin Pathan, AVP Presales and Solutions at Bahwan CyberTek.

Now in its fourth year, the Asian Technology Excellence Awards honour top technological innovators and solutions that are transforming industries and spearheading digital transformation efforts.

The Asian Technology Excellence Awards is presented by Asian Business Review. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's outstanding retail initiatives, please contact Jane Patiag at [email protected].