APIs, SPIs, AI and NLP – a lot of acronyms to talk about this month
This month we’ve got the addition of SPIs to our APIs in FusionFabric.cloud. And we also have some inspiration on how our APIs can be used alongside natural language processing (NLP) to create new experiences in your email client.
New functionality - API vs SPI?
You will be familiar with our suite of APIs (Application Programming Interface) already available, but this month we introduce SPIs (Service Provider Interface). An API is a means for accessing a provided service or function. An SPI is a way to inject, extend or alter the behaviour, we call this model our Product Extension API.
SPI (a.k.a. Product Extension API) is a new model introduced on FusionFabric.cloud where an API definition exposed by Finastra’s core system is actually intended to be implemented or extended by a third party, like a fintech.
The reason behind the introduction of the SPI model is that we want to extend the behavior of Finastra core products with some new business logic and functionalities from fintechs and the broader ecosystem. It means that we want to give the ability to integrate with a fintech so that the response provided by its services is embedded into the process flow of a Finastra core system.
In case of the SPI model, the call is initiated by the financial institution, which is using a Finastra core system, and a synchronous value-added response is provided from the fintech service implementing the SPI contract on a given backend URL.
Spotlight on Fusion Global PAYplus
Fusion Global PAYplus is Finastra’s payment hub solution for financial institutions that supports any payment type from high value payments, mass payments and immediate/real-time payments. FusionFabric.cloud allows the developer community to tap into this data and payment capabilities:
Deploying a ML model using a flask app + API
Learn how Finastra's Innovation team are experimenting with NLP and FusionFabric.cloud's payment API to create new experiences, in this step by step technical guide
Behind the Hype is a meetup series breaking down overhyped topics in fintech; this session introduces the applications of AI and NLP in fintech!
Finastra’s innovation team work on a mixture of projects applying AI and machine learning across lending, risk management, fraud, payment processing and credit scoring.
reciTAL is an artificial intelligence business software editor specialized in natural language processing (NLP). Their solution transforms your emails, documents and reports into a source of productivity and customer satisfaction
And if you have questions or need help, contact our dedicated team on the Community Q&A page.