API REST approach in RaaS Risk Platform
If financial technologies have witnessed explosive growth in recent years, this also due to APIs.
APIs support the connected business economy, reducing time and costs of software development and features add-on.
Fintech derives at least two great benefits from the implementation of APIs: the enhancement of software functionality and users experience with little or no cost, and the access to data and information in real-time.
Let’s take a step back.
APIs are programming tools that allow different applications or programs to interact with each other. Each API describes a specific operation which developers can embed to other operating systems without having to program it again. Business activities produce a massive amount of data that often goes underutilized; using APIs we can easily implement business intelligence platform capabilities, linking data from different sources and improving analyses’ efficiency and forecasting capabilities.
modefinance embraces the connected economy philosophy providing web APIs of oplon Risk Platform and allowing the implementation of external data and functionality within the platform.
oplon Risk Platform is an Augmented Analytics solution that fully automates the rating calculation process. In addition to providing the quantitative score of any company in the world thanks to the AI-based methodology MORE (certified by ESMA), oplon integrates the analysis tools used by rating agency in rating issuance (qualitative and sensitivity analysis, debt service capacity, cash flow analysis, probability of default, expected losses, etc..), which refine the evaluation automatically affecting the creditworthiness assessment.
All analysis models can be customized or integrated with internal patterns; oplon is completely modular and allows via APIs the integration of public data and information from external sources with private internal ones. Likewise, all oplon features can be integrated into other operating systems, allowing companies to embed data and functionality in their internal application.