Latest news with #ApplicationProgrammingInterface
Indian Express
2 days ago
- Business
- Indian Express
New UPI guidelines to kick in from August 1: Here's how it will affect you
The National Payments Corporation of India (NPCI) has announced that a new set of regulations on Unified Payment Interface (UPI) system will be in effect from August 1. The new Application Programming Interface (API) usage rules for all banks and payment apps, including changes to AutoPay, and checking account balance will begin from the next month. UPI users will only be able to check their account balance 50 times a day. The objective, according to NPCI, is to make UPI more dependable, seamless, and less prone to disruptions, particularly during peak hours. Changes in UPI AutoPay transactions NPCI has introduced fixed time slots for autopay transactions via UPI. Rather than transactions being processed at random throughout the day, it will take place at specific time. These payments will include planned payments including auto payments, subscriptions, utility bills, or EMIs. Although it's a behind-the-scenes change, it should help the platform run faster and reduce congestion throughout the day. Businesses that depend on automatic UPI collections may need to adjust their schedules, but for the majority of users, whether they are paying for a subscription or a mobile recharge, everything will continue to operate normally. The new restrictions are applicable to all users on all platforms, regardless of how frequently they use UPI. Users may not otice much of a difference, though, if they don't frequently check their account balance or update payment status. The primary target audience for these updates are frequent users who inadvertently overload the system with requests.
Indian Express
3 days ago
- Automotive
- Indian Express
EaseMyTrip co-founder Prashant Pitti vows to cut Bengaluru traffic by 30% in one year
EaseMyTrip Co-founder Prashant Pitti Thursday announced a collaborative initiative aimed at reducing traffic congestion in Bengaluru by 25-30 per cent within a year. The plan, which brings together public institutions, private firms, and scientific minds on a common platform, was initiated following a series of high-level meetings over the past 10 days with key stakeholders, including Bengaluru traffic police, Bruhat Bengaluru Mahanagara Palike (BBMP), city police, Google India, IISc researchers, and mobility entrepreneurs. On social media platform X, Pitti described the collaboration as unprecedented, where for the first time all key public and private players will be working together. The initiative will rely heavily on data science, AI-driven simulations, and community involvement to enable real-time interventions and long-term systemic fixes. Among the immediate steps outlined, Pitti is exploring traffic simulation models with IISc and the traffic police's already established rerouting simulation tools that prioritise time over distance. Pitti has also approached Google, Uber, Ola, and Rapido to share anonymised data to strengthen predictive models. 'Once operational, these could anticipate and prevent gridlocks before they happen,' he said. Pitti has offered to take charge of an existing government grievance redressal app, expanding its scope beyond potholes to cover illegal parking, broken signals, waterlogging, and more. He said he was aiming to promote transparency by publicly showcasing complaints and resolution timelines. To prevent delays in road work due to unexpected rain, Pitti has also proposed a real-time weather predictor that will proactively address drainage-related disruptions. The approach signals a shift from infrastructure dependence to optimisation of existing systems using technology, intent, and data. 'If we continue to wait for infrastructure upgrades, we are merely playing catch-up,' Pitti said, emphasising that practical optimism and collaboration can solve what appears unfixable. Pitti has also launched a WhatsApp community to crowdsource feedback from daily commuters on trouble zones. He appealed to the public to contribute by identifying junctions with major congestion issues, helping the project pinpoint focus areas. This fresh announcement builds on an earlier offer made by Pitti on July 14, where he committed Rs 1 crore to fund a project aimed at identifying and solving choke points across Bengaluru using Google Maps' Road Management Insight, launched recently for city-level traffic analytics. The budget was proposed for hiring senior Machine Learning/Artificial Intelligence engineers, procuring Graphics Processing Unit resources and satellite imagery, funding Application Programming Interface calls, data storage, and creating detailed, time-based maps of chronic congestion zones.
Business Times
16-07-2025
- Business
- Business Times
Security and compliance among concerns of banks in granting API access to fintechs
[SINGAPORE] Security and compliance concerns are top of the list when Singapore's brick-and-mortar banks decide whether to grant fintechs Application Programming Interface (API) access to the financial data, particularly that of the banks' small and medium-sized enterprises' (SME) clients. DBS, OCBC and UOB told The Business Times that they provide API access to only certain fintech platforms. BT understands that a critical mass of customers is needed before API access is considered, and that some banks provide this access for free to some platforms by bearing the costs of maintaining the API. APIs are sets of protocols that allow for different software programs to talk and exchange data. Fintechs, such as those seeking to give loans to SMEs, which have been barred from accessing the banks' client data have resorted to manually processing spreadsheets and pdf documents from their SME customers. The process would be much smoother if these fintechs are able to just pull the data from their customers' banks. Think tank Fintech Nation on Jul 7 released a report highlighting this lack of API access to fintechs, which could hamper the growth of financial services for SMEs. OCBC has set up API connections for fintech platforms with a more than 30 per cent share of total API calls, said Adriano Ortega, head of implementation and client services, global transaction banking at OCBC. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'When evaluating potential API connectivity with other parties, several key considerations come into play. These include the strength of the other party's cybersecurity risk-management capabilities and the commercial viability of the business-use case,' he said. Connecting via API has to provide meaningful benefits to OCBC's business customers, while still maintaining security and reliability. For DBS, data privacy is a key concern in whether the bank would open up API access to a platform. This is to ensure that information accessed is used responsibly. 'DBS has guardrails in place to ensure that only platforms with robust data privacy infrastructure can access our customers' data. We provide access to our customers' data via API integrations to platforms which meet these standards, and have done so for several years,' said a DBS spokesperson. UOB offers API access for customers to support specific business operations. The bank did not elaborate which operations these were. 'Our active push for client digitalisation is in line with the nation-wide acceleration for enhanced digital connectivity. We also work together with the government and the industry to spearhead initiatives that advance the payment landscape,' said a UOB spokesperson. The Monetary Authority of Singapore (MAS) views credit – including that given to SMEs – as a key function of the financial sector. The regulator says it regularly reviews the potential to enhance both banks' and non-traditional lenders' ability to underwrite loans; it does so by tapping various available data sources while maintaining financial stability. MAS says that it is engaging banks, alternative lenders and SMEs as part of the review, and will welcome solutions from the industry. 'To deliver meaningful outcomes for SMEs, the proposed solutions must be commercially viable and sustainable, while carefully balancing costs and benefits for all parties involved,' said a MAS spokesperson.
Mid East Info
02-07-2025
- Business
- Mid East Info
NBO Launches API Gateway to Accelerate Oman's Digital Financial Transformation - Middle East Business News and Information
2 July 2025, Muscat: The National Bank of Oman (NBO) has officially launched its Application Programming Interface (API) Gateway, marking a significant step towards advancing the Sultanate's digital banking landscape. The secure platform enables seamless integration between the customer's systems and NBO's channels, offering real-time access to a wide range of banking services. Commenting on the launch, Mohamed Yahya Al Jabri, Assistant General Manager & Head of Global Transactions, said, 'The launch of the NBO's API Gateway represents a significant step in our strategic drive to empower Oman's digital economy. By providing secure, real-time access to our banking services, we are not only enabling connections; we are utilising innovation and driving automation at unprecedented speeds. This initiative lays the foundation for a dynamic financial ecosystem targeting key sectors such as SMEs, e-commerce, fintech and large-scale infrastructure projects.' Live across Oman, the API Gateway serves as a foundational tool for corporate customers, government entities and fintech developers, supporting integration with Enterprise Resource Planning (ERP) systems, treasury functions and custom financial applications. It aligns with the Central Bank of Oman's vision to enable open banking and foster a digitally connected financial ecosystem. Through a robust set of APIs covering payments, accounts, mandates, CRM, cards, loans and open banking use cases, NBO's platform empowers businesses and developers to streamline operations and drive automation. The gateway supports both corporate API banking and open banking models, including AISP and PISP functions, while adhering to international security standards. Customers can access the API Gateway through a dedicated developer portal. Once approved, they can connect to the live environment. The platform is built to grow and supports future plans such as fintech onboarding and deeper digital collaboration with corporate and government clients.
Time of India
22-06-2025
- Politics
- Time of India
Voter ID cards to now be delivered in 15 days as ECI launches fast-track system
Pune: A newly registered voter will now receive their Elector Photo Identity Card (EPIC) within 15 days of their name being added to the electoral roll, under a new fast-track delivery system launched by the (ECI) on June 18, state election officials told TOI. Tired of too many ads? go ad free now The initiative also applies to voters seeking changes in their details, including address updates and corrections. State election officials said the system enables real-time tracking and SMS alerts at each stage — from generation by the Electoral Registration Officer (ERO) to doorstep delivery by the postal department. ECI has deployed a dedicated IT module on the ECINet platform, integrated with India Post's Application Programming Interface (API), to replace the older manual workflow for seamless coordination. This a -engineered, secure, and efficient digital process aims to improve transparency, reduce delays, and ensure better data security. "All EPIC-related applications will now be processed through ECINet, allowing for faster and more efficient delivery," an official from the Chief Electoral Officer's office said. Officials said that they will now collate the fresh EPIC applications and clear them according to this new process. ECI's new system to deliver EPICs within 15 days of application or updates halves the existing delivery time of 30 to 45 days. Officials pointed out that the initiative enhances convenience for electors by leveraging technology to streamline service delivery. "This is part of ECI's ongoing effort to make electoral services faster, more transparent, and accessible," said a senior ECI official, adding, "Electors will now have visibility into their voter ID card's journey, reducing uncertainty and delays." Tired of too many ads? go ad free now Voters who have enrolled said that it would help track the EPIC cards that get misplaced. Shalini Kumar, who recently shifted to the city, had applied as a voter two months back and is yet to receive the voter card. "This system may help a citizen know the status of the EPIC card dispatch," said another official. A voter planning to apply for the card, choosing anonymity, told TOI, "The new reforms will surely help track the card and see that it does not get misplaced, like in previous instances." Officials emphasized that data security and service accountability remain top priorities. The new system offers an end-to-end encrypted process, while ensuring real-time alerts for both officials and applicants. Pune: A newly registered voter will now receive their Elector Photo Identity Card (EPIC) within 15 days of their name being added to the electoral roll, under a new fast-track delivery system launched by the Election Commission of India (ECI) on June 18, state election officials told TOI. The initiative also applies to voters seeking changes in their details, including address updates and corrections. State election officials said the system enables real-time tracking and SMS alerts at each stage — from generation by the Electoral Registration Officer (ERO) to doorstep delivery by the postal department. ECI has deployed a dedicated IT module on the ECINet platform, integrated with India Post's Application Programming Interface (API), to replace the older manual workflow for seamless coordination. This a -engineered, secure, and efficient digital process aims to improve transparency, reduce delays, and ensure better data security. "All EPIC-related applications will now be processed through ECINet, allowing for faster and more efficient delivery," an official from the Chief Electoral Officer's office said. Officials said that they will now collate the fresh EPIC applications and clear them according to this new process. ECI's new system to deliver EPICs within 15 days of application or updates halves the existing delivery time of 30 to 45 days. Officials pointed out that the initiative enhances convenience for electors by leveraging technology to streamline service delivery. "This is part of ECI's ongoing effort to make electoral services faster, more transparent, and accessible," said a senior ECI official, adding, "Electors will now have visibility into their voter ID card's journey, reducing uncertainty and delays." Voters who have enrolled said that it would help track the EPIC cards that get misplaced. Shalini Kumar, who recently shifted to the city, had applied as a voter two months back and is yet to receive the voter card. "This system may help a citizen know the status of the EPIC card dispatch," said another official. A voter planning to apply for the card, choosing anonymity, told TOI, "The new reforms will surely help track the card and see that it does not get misplaced, like in previous instances." Officials emphasized that data security and service accountability remain top priorities. The new system offers an end-to-end encrypted process, while ensuring real-time alerts for both officials and applicants.
