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Best FinTech APIs to Use in Your Finance Software or App

fin tech api

APIs are the backbone that ensure your financial software operates smoothly. They efficiently and securely extend new functionalities to meet user needs.

Whether your goal is to offer seamless payment processing, retrieve accurate financial data, ensure secure identity verification, or provide real-time in-app chat, there's an API tailored for that purpose.

We've compiled a list of APIs that have earned their stripes in the developer community and have been acknowledged by financial industry experts. They are provided by reputable companies, offering robust and reliable services that can help your app shine in the competitive FinTech space.

As you explore the list, you'll find familiar names like Stripe and Experian, alongside other robust APIs that might be new to you. Each of these APIs caters to a specific need within the financial sector, making them invaluable assets for FinTech apps.

1. Best Payment Processing FinTech API

Stripe API

Handling payments reliably is a must for FinTech apps. Stripe makes the whole payment experience smooth for both developers and end-users. It’s easy to navigate and you can use it to process transactions, subscriptions, and other payment-related tasks. Stipe’s security protocols are first-class, which is a big deal when you're dealing with people's hard-earned cash

Developers sing Stripe’s praises, especially in terms of how well-documented and developer-friendly the payment API is. It saves them from having to implement complex payment processing systems from scratch and it frees them up to focus on other critical areas of the app.

Stripe also has transparent pricing and real-time reporting features to keep you up-to-date about what’s happening with your money.

2. Best Banking FinTech API

Plaid API

Plaid acts as a handy bridge between your app and users' bank accounts. It integrates quickly and simply. The user interface is very intuitive too. Users can link their bank accounts within a couple of clicks. Your app can then automatically access a user’s financial data with their full permission.

The data can be used to help with personal finance management, budgeting, or investment apps. It ensures that accurate and up-to-date financial data is always available. This provides a lot of value to your users, saving them time, as they don’t have to manually extract and send data to your app. Plaid takes security very seriously, with cutting-edge security measures to ensure top level data protection.

3. Best Identity Verification and Anti-Fraud FinTech API

Trulioo API

Trulioo is like a security guard for your FinTech app. It checks the ID of everyone coming in, making sure they are who they say they are. This is important, as in the financial world you really need to know who you're dealing with to avoid fraud and comply with the law.

Trulioo is a big help when it comes to meeting legal requirements, such as KYC (Know Your Customer) and AML (Anti-Money Laundering). These are the rules that govern FinTech, making sure that everyone's playing fair and square.

What's great about Trulioo is it can check IDs globally. So, no matter where your users are from, Trulioo can handle it, making it a great fit for apps with a worldwide user base.

Plus, it's easy to fit Trulioo into your app’s setup, which is a big time-saver for developers.

In short, Trulioo is a reliable tool for keeping your app safe, compliant with laws, and user-friendly no matter where your users are located.

4.Best Credit Score and Reporting FinTech API

Experian API

The Experian API is like a window into the financial behaviors of your users, especially when it comes to credit. The moment you need to check someone's credit score or need a detailed credit report, it's there with the info on the dot. This real-time access is a big deal because in the credit world, timing is everything.

To make profitable lending decisions you need accurate and reliable data. Experian’s a gateway to a range of credit data. It can provide a quick credit score or a deep dive into a credit report. Integrating the Experian API into your app is easy, saving your developers from the headache of a complex setup process.

Experian is a big name in the credit reporting world, and its API brings that credibility to your app. When you say to a user or stakeholder that the credit info is sourced from Experian, it carries weight.

5. Best In-App Chat FinTech API

Sceyt Chat API

Sceyt’s Chat API brings fast and reliable chat features to your app, making it feel as interactive and responsive as any modern messaging platform. It’s ideal for customer queries, chatting with financial advisors, and community building in your app.

The enhanced customer support you can provide with Sceyt’s chat API is valuable. An immediate answer to a user’s question could mean the difference between a completed transaction and a lost customer.

The robustness and reliability of Sceyt’s chat infrastructure means it can handle both quiet times and busy ones in your app. It scales easily to millions of users in a single channel. The low latency binary messaging protocol means that you offer lag-free lines of communication whenever your users need it.

The other benefit of low latency chat for financial apps is the ability to update stock prices and other time-sensitive data as quickly as possible. Your users will thank you if you can deliver real-time information via chat.

6. Best Currency Conversion and Forex FinTech API

Open Exchange Rates API

For FinTech platforms aiming to serve clients across borders, the exchange rate is more than just a number. It's a pivotal factor that impacts transaction value. That's why this API is valuable for FinTech apps that serve an international market.

Open Exchange Rates API brings to the table real-time forex data, ensuring that your app is always equipped with the most current exchange rates. It's like having a live ticker that keeps you updated on the currency pulse. This is valuable for dealing with international transactions where rates can fluctuate from moment to moment. You also get a ton of exchange rate data to understand currency movements more clearly.

7. Best Investment and Market Data FinTech API

Alpha Vantage API

Alpha Vantage API is a 24/7 monitor for the financial markets within your app, keeping you updated with the latest market movement in stocks, forex, and cryptocurrencies. In the world of investment, information is everything.

Alpha Vantage provides real-time stock data that helps in making timely investment decisions. It’s like having a seat at the stock exchange, with all the market dynamics right in front of you, as well as all the historical data you need.

8. Best Regulatory Compliance FinTech API

ComplyAdvantage API

Navigating FinTech regulations is a complex maze, requiring a vigilant eye on ever-changing rules and regulations. This is where ComplyAdvantage comes in as a trusted companion.

It’s a regulatory watchdog that never sleeps, constantly screening and monitoring your operations to ensure they are in step with the required standards. The real-time screening feature is like having a vigilant guard to protect your FinTech app.

Try Sceyt’s Low-Latency Chat API To Boost UX

If you want to see what Sceyt can do for your FinTech app, check out our demo app or sign up for a free trial.