API Standards: The Mortgage Industry's Next Big Challenge
For those not familiar with how they work, an API is a design that allows the exchange of information between systems. Ideally, they provide clear specifications for data requirements that enable data to be sent and authenticated securely between different parties. Similarly, microservices are more specific, self-contained applications for exchanging data that are used for single tasks, such as returning a borrower's bank account information or property tax data. One application could use multiple microservices to perform a complex task, with each microservice having its own API that defines the data...read more here!