SAN JOSE, Calif., March 31, 2016 (GLOBE NEWSWIRE) -- Apigee® (NASDAQ:APIC), developer of an intelligent API platform for digital business, today announced that it has been selected by The Bancorp, a provider of private-label banking and technology solutions for non-bank companies, to help provide its customers and affiliates with fast, simple and secure access to their data through APIs (application programming interfaces).
Apigee senior vice president of strategy Ed Anuff added, “In today’s digital and interconnected business environment, customers want frictionless and nearly real-time access to their data. APIs are helping make this possible for The Bancorp – empowering them to create better experiences for their partners and affiliates, while helping driving new efficiencies across their internal support teams.”
Apigee’s flagship Apigee Edge API management software empowers organizations to securely deliver and manage APIs, with agility and at scale. The Apigee Edge software is part of the Apigee intelligent API platform, which also includes Apigee Insights, an API-based, self-service predictive analytics solution, and Apigee Link, an API-first Internet of Things (IoT) product for connecting devices to the Internet. Most recently, Apigee introduced Apigee Sense, an intelligent API security product.
APIs Key to Digital Transformation in Financial Services
According to Forrester senior analyst Peter Wannemacher in his Predictions 2016: Financial Services Execs Wake Up To Digital Transformation report: “Financial services providers have been relatively slow to recognize and act on APIs as an opportunity to transform their businesses and, ultimately, better win, serve, and retain customers. This will change in 2016, as digital business executives collaborate with CIOs to champion investment in internal, B2B, and product APIs. APIs won’t only help firms increase agility and provide services to clients and partners: they will enable financial firms to build dynamic ecosystems of value, reconnecting a fragmented value chain.
The findings of Apigee’s 2015 Digital Impact Survey1 revealed that smartphones and apps continue to impact the way today’s banking consumers manage their financial lives. In 2015, adoption of digital technologies gained momentum in banking, with nearly three quarters (73%) of smartphone owners reporting a change in the way they bank. This rise in digital experiences for banking may indicate a larger shift in the center of gravity in financial services. The survey findings show that:
- More than half of all of U.S. smartphone users (58%) report that they prefer to bank using their smartphone and apps rather than in person at a bank. Among millennials, nearly three quarters (71%) prefer digital options.
- Approximately one in four respondents report using their smartphone for paying in-store, making or receiving a direct payment via app, or using a non-bank financial management app or website.
- Between 2014 and 2015, banking app daily usage increased from 14 percent to 20 percent, while non-ATM bank branch usage fell four points (to 41 percent). This represents 52 percent growth in daily banking app usage, year over year. Among those ages 18-29 more than one in four (27%) now use a banking app daily.
- To read the press release announcing findings from the 2015 Digital Impact Survey, go here.
- To see a report with more information and analysis of the 2015 Digital Impact Survey findings, go here.
- To see the recent webcast, “Eight Ways the Digital Financial Services Market Will Shift in 2016,” with Forrester’s Peter Wannemacher, go here.
Apigee® (NASDAQ:APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 30 percent of the Fortune 100, five of the top six Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.
Safe Harbor Statement
This press release contains forward-looking statements, including statements regarding market adoption of digital technologies, planned customer adoption and implementation of Apigee’s products, potential future customer opportunities and opportunities between Apigee and The Bancorp. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.
The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on March 4, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
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1 The 2015 Digital Impact Survey surveyed 1,000 smartphone owners 18 years of age or older in the United States. Respondent data was modeled on key demographics proportional to known benchmarks for smartphone owners. Respondents were weighted to match the November 2014 omnibus survey by the Pew Research Center, filtered to smartphone owners over 18. Those polled demographically match Pew’s sample in terms of age group distribution, income, education, and regional representation. The Digital Impact Survey is conducted online with respondents sampled from leading industry consumer panels who clear multiple quality checks during the survey process.