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Collective Intelligence: Why Large Corporations Share Technology with Small Players

Big business has reconsidered its approach to digital technology implementation — now corporations provide open access to their services. This is a perfect example of Ufabet. Loading the portal is fast, the portal itself is convenient and easy to use. The administration of the institution offers everyone free games without registration and without time limits. This service will perfectly help novices in developing tactics for playing on a paid slot machine or roulette.

Today, the success of a business depends mainly on how quickly it adapts to the realities of working in a digital environment. Both international corporations and small and medium-sized businesses are equally struggling to use digital solutions effectively and meet new market standards, and most importantly, consumer expectations. To maintain leadership and competitiveness, you need to:

• constantly invest in the development of technologies

• engage in their own development 

• oddly enough, share them with others.

How 165 Startups Are Adapting To Work-From-Home

It is not the first year that large companies have been practicing open access to their services for third-party applications via the API (application programming interface). In simple terms, this is an opportunity for developers to connect different external services to their applications. For example, you can connect a city map in one mobile app, specify a company office or a movie theatre on it, and set a convenient route to them. 

You will only need existing open services, without having to create maps from scratch. If you have an open API, you can also connect your app to it and start testing immediately.

Large financial corporations also provide access to their software interfaces

APIs are the next big SaaS wave

After all, the market can no longer exist to one who alone owns all the innovations in payments. For a long time, we have been actively developing technologies to promote our own products, and in February 2019, we launched a platform with access to more than 40 APIs. 

Third-party developers can experiment with configurable programs, get acquainted with documentation and test data, and, most importantly, now they have a whole range of advanced company solutions at their service: 

• checkout service

• card-to-card transfer service, etc. 

Our goal is to create a unified technology environment in which companies, financial institutions, and retailers can effectively work on e-commerce applications.

Is the API Landscape Broken?

There are enough arguments in favor of the decision to open the API for third-party developers: 

1. First, it is an opportunity to test your technologies in different parts of the world. 

2. Second, an effective search for small and medium-sized businesses of a major partner. 

3. Third, it is an opportunity to expand the scope of your technologies. For many companies, an open API is essentially a way to get feedback about their technologies and their practical potential at no additional cost. And, of course, the main and most important reason-the opening of the API contributes to the process of joint creation and development of technologies, and this significantly increases the speed of development of innovations in general.

If there is a solution that can be quickly and easily integrated into your business, it is not necessary to develop its counterpart yourself. Companies, for example, actively support start-ups that use existing technologies to help them develop their own businesses. 

How APIs Can Transform Your Company

Such accelerators are usually conducted in partnership with local co-working companies and attract those who are willing to demonstrate the effective use of open APIs in different directions. 

For example, it is done for processing electronic payments (removing barriers that customers face in the payment process) or solving problems that commercial organizations have when processing payments. A separate competition was devoted to developing a solution that made electronic payments more convenient for a group of consumers with disabilities. As a result, the most interesting ideas received financial support from us and assistance in launching the pilot version.

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