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How Open APIs Fueled the Growth of Eko in India

When Indian money transfer company Eko decided to open APIs back in 2016, the company was concentrated in just two cities. Today, thanks to open APIs, it originates transactions across India and processes over $300 million per month. In this video, co-founder Abhinav Sinha describes the role that APIs have played in the business’s growth and profitability. He also offers tips for financial services providers who are just starting their open API journeys.

CGAP is a global partnership of more than 30 leading development organizations that works to advance the lives of poor people through financial inclusion. Using action-oriented research, we test, learn and share knowledge intended to help build inclusive and responsible financial systems that move people out of poverty, protect their economic gains and advance broader development goals. We research and experiment to achieve proof of concept and extract lessons that can be built to scale by our partners, who apply our insights in the marketplace.