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How MuleSoft Simplifies API Integration for Financial Services and Payments

February 15, 2021


MuleSoft simplifies API integration

As financial services and payments companies seek to modernize legacy systems and focus on hybrid integration to remain competitive, MuleSoft offers simplicity.

Customer expectations for payments have changed dramatically in the last decade. In 2021, secure mobile banking and payments are table stakes as people increasingly prefer digital over physical options. Financial services organizations are also bound by an increasing number of regulations that govern how online and mobile processes and interactions can happen.

Financial services and payments companies are often slow to adopt new technology, rendering them behind the curve when it comes to some of the newer banking and payment channels. For embarking on the digital transformation journey, cloud and API technologies have done a lot to enable mobile options and to help companies innovate. Others are still wary of opening access outside of the firewall and cling to legacy systems that only hinder innovation and progress.

APIs Add Value to Financial Service Companies

More than ever, financial institutions and payments companies are using custom applications for everyday business. These applications help organizations facilitate secure transfers between institutions, analyze data, mobile banking, payment processing, and more. Application Programming Interfaces (APIs) are necessary tools to facilitate connectivity, promote innovation, launch new services, and become more operationally efficient.

Perhaps most importantly, APIs enable financial service firms the ability to manage, share, and protect valuable data across employees, vendors, and customers. This not only streamlines operations, improves service, and provides insights into customers, but it has the potential to boost the bottom line.

Unlocking Data, Unlocking Profit

Data is the not-so-secret weapon in the financial services and fintech realms, though it takes careful consideration to monetize as regulatory scrutiny requires compliance with data governance restrictions. Connectivity — the integration of core systems with internal and external systems — is key.

Legacy systems can present challenges when it comes to digitization, innovation, and data-sharing. However, enabling a service-oriented architecture (SOA) on top of core systems can add agility that enables data to be pulled from core systems and shared with third parties (or vice versa). These connectivity layers enable hybrid integration where on-premise systems can be connected to the cloud.

On-premise systems connected to the cloud can be modernized and lead to new revenue streams. Rather than being hindered by legacy systems, integration platforms empower financial services to harness an agile infrastructure that allows them to access existing data to unlock new profit opportunities.

Financial services firms face nuanced challenges due to legacy systems and their amalgamation with other technologies, applications, and processes to meet business needs. This complicated mix leads to compounding inefficiencies as firms turn to point-to-point integrations to address problems as they arise when attempting integrations between existing systems and modern software, services, and APIs. Unfortunately, point-to-point integrations create their own unique interdependencies that render systems complex, fragile, and prone to failure.


MuleSoft’s Anypoint Platform™ helps payments companies develop and integrate APIs through easy-to-implement solutions. The Anypoint Platform enables firms to design, build, monitor, and manage APIs with seamless integration and interoperability in an environment.

As the financial services industry weathers rapid evolution that requires constant innovation, organizations must be able to rely on a digital infrastructure that can support innovation securely and in a compliant manner. Along with the Anypoint Platform are other components, including CloudHub and Mule as an Enterprise Service Bus (ESB). These components enable financial services companies the ability to share information across any type of systems and applications, including legacy systems. By unlocking systems and data via connectivity, financial services firms can create powerful, well-crafted APIs.

Anypoint™ Connectors facilitate instant API connectivity to popular financial applications and services. Financial services firms can tap into a library of pre-built integration solutions to connect and integrate numerous workflow applications and systems. Anypoint Connectors are built and managed on the enterprise integration platform, so financial services companies can rapidly deploy integrations onsite or in the cloud.

MuleSoft’s Anypoint Platform for APIs supports financial services organizations at every step in the development and implementation of APIs, enabling them to:

  • Consult with application developers: API and application developers collaborate throughout the API lifecycle. Once an API is designed, application developers have access to interact, test, and provide feedback within one digital environment.
  • Quickly develop APIs: MuleSoft’s API Platform enables the rapid building of APIs and also supports developers in ensuring solid performance, security, and protection against unauthorized access.
  • API management and monitoring: Anypoint Platform for APIs offers a robust suite of tools to manage and monitor APIs. Organizations can create contracts to control access, create SLAs, or throttle calls to API endpoints.

The ability to tap reusable API integrations allows payments organizations to get set up quickly and efficiently, avoiding issues that can hinder processing or lead to delays. MuleSoft provides the tools and support necessary to simplify the creation and integration of APIs for payments organizations, streamlining operations and igniting innovation. As the industry advances, MuleSoft can help organizations create and sustain a digital infrastructure built to compete.

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