OpenAI Batch API, WordPress VIP API Mesh, Fintoc $7M
The API Changelog issue 2024.18
This is issue 2024.18 of the API Changelog, a mix of API news, commentary, and opinion. In this issue, you'll get to know the most relevant API-related information from the week of April 22, 2024. Subscribe now, so you never miss an issue of the API Changelog.
Highlight of the week
WordPress VIP has introduced its new API Mesh, powered by TakeShape, which enables businesses to create differentiated experiences faster and at a lower cost. See additional coverage on MorningStar, InvestorsObserver, StreetInsider.com, and MarTechCube.
The API Mesh comes to solve the challenges related to integrating frontends with a growing multitude of backend systems. With the mesh frontend developers can retrieve all the data they need with a single GraphQL call.
Michael Khalili, Director of Product Marketing, WordPress VIP, shares that “the VIP API Mesh is a powerful tool that integrates multiple backend systems, enabling flexibility, innovation, and improved user experiences while reducing costs and overhead.”
WordPress VIP is an Automattic company, the creators of WordPress and owners of services such as Tumblr, Longreads, and Gravatar. TakeShape is a GraphQL API provider used by companies like Comcast, Stripe, and Valvoline.
Announcements
Kakao Mobility launched its robot delivery service BRING and its robot open API platform, BRING-ON, showcasing versatility across various environments. The company partnered with LG Electronics to deploy LG's CLOi ServeBot and innovate in autonomous indoor and outdoor delivery services.
Picnic Corporation launched its Human Risk API, enabling the integration of external human-centric intelligence into cybersecurity frameworks. The API strengthens defenses by providing predictive prevention and actionable insights against social engineering and credential theft.
Singtel partners with Vonage, part of Ericsson, to enhance enterprise and telco innovation through the Paragon platform. The collaboration creates a global API ecosystem, expediting digital transformation and enabling seamless application deployment across multiple markets.
Orchest Technologies integrates API Business Intelligence for enhanced reporting and analytics on its Orchest platform and launches the first online connectivity equipment marketplace. The company demonstrates a commitment to innovation and customer experience, poised to reveal new solutions at the upcoming International Telecom Week (ITW).
Amazon Titan Image Generator is now generally available, offering new image generation and editing features including watermark detection to ensure responsible AI use. The DetectGeneratedContent API provides watermark validity checks, enhancing transparency around AI-created content.
TXODDS has developed the Fusion platform for rapid sports betting data updates, emphasizing ultra-low latency for real-time efficiency. The online sports betting market, growing consistently, is projected to reach $65.68 billion by 2029, demanding speed and accuracy from bookmakers.
ONC and The Sequoia Project released TEFCA Common Agreement Version 2.0, enhancing FHIR API data exchange processes. The updated agreement and participation terms lower legal costs, aligning with industry API trends for better healthcare data access. See additional coverage on ExecutiveGov.
ASTERRA introduced a new API that allows integration with Earth observation platforms, pioneering commercial SAR analytics accessibility. Set to debut at marketplaces, the API enhances ASTERRA's SaaS offerings, fostering collaborations with GIS partners, and will be showcased at the USGIF GEOINT conference. See additional coverage on 01net and Space Daily.
Funding and M&A
Diddo, a shoppable video API startup, secured $2.8 million in seed funding for its technology that integrates within video platforms. The capital will boost product development and team expansion, as the company pursues deals with industry players like Hulu.
Twill Payments, a payments industry startup, has completed its pre-seed funding to improve its data-aggregating platform. The investment will boost Twill's AI features and support SMEs' bookkeepers and accountants with advanced analytic tools.
Flashaid, a health insurtech startup, raised $2.5M for expansion, offering API-centric, full-stack health solutions. The startup distributed 30,000+ health plans and aims to reach $10M ARR in two years. See additional coverage on ZeeBusiness.
Y Combinator alum Fintoc raised a $7 million Series A for open banking in Chile and Mexico, targeting A2A payments as a lower-cost alternative to cards. Fintoc's growth is limited in Chile but promising in Mexico, drawing investments for its expansion despite a downturn in fintech funding. See additional coverage on CrowdFund Insider, LatanList, and Fintech Global.
Fidel API Holdings Limited, known as Astrada, sold its loyalty business to Enigmatic Smile, including its technology, customers, and brand. Enigmatic Smile plans to enhance the loyalty platform, based on its global rewards infrastructure, and Fidel’s rebranded parent focuses on expanding its financial and data infrastructure. See additional coverage on Fintech Futures.
AI
Google introduced Gemini Code Assist for enterprises at Cloud Next, enhancing API Management and Integration with advanced AI capabilities. Gemini outperforms previous models by handling larger data for complex tasks and assists with tailored recommendations and API proxy guidance.
OpenAI has launched new cost-saving API options including batch processing and discounts for volume commitments. Enhanced security and management features, like Private Link and Projects, are also introduced to support enterprise needs. See additional coverage on Gadgets Now, Techzine, Gadgets 360, OODA Loop, AIM, SiliconAngle, and VentureBeat.
AI startups including OpenAI, Anthropic, and Together AI use Stainless, offering automated SDK generation for APIs. Stainless, founded by Alex Rattray, simplifies API integration with its AI-powered platform and has a growing client base. See additional coverage on Yahoo!news.
Monster API, leveraging generative AI technology, enables users to create custom AI models. Their platform simplifies generative AI application development, broadening access to this tech. See additional coverage on SiliconAngle and SDTimes.
The DevOps company Copado has unveiled Test Copilot, an AI assistant for easy Salesforce test creation. Test Copilot, based on CopadoGPT, automates creating tests from prompts, existing tests, or recorded sessions, enhancing speed and release quality.
Fintech
Check fraud has risen sharply since the pandemic, with Codat launching its Supplier Enablement API to combat this by enhancing bank data sharing. JPMorgan Chase adopted the solution, citing benefits like efficiency and cost savings for clients.
The fintech company Konvex has launched a Universal API, integrating over 10 ERPs to streamline business processes in Latin America. Konvex's solution minimizes integration costs by 80% and aims for global expansion, already facilitating over 500,000 transactions.
Standard Chartered's open banking marketplace enhances API discovery and simulation for companies integrating digital solutions, streamlining development and collaboration. The platform offers over 100 APIs, industry-specific solutions, and upgraded testing environments to expedite adoption and cater to client needs across 33 markets.
The Pacific Life integration with Selerix streamlines benefits administration with real-time data updates and simplified processes. Their collaboration targets increased efficiency, immediate decisions for insurability, and consistent benefits in data management.
Veritran joins the Swift Partner Programme, elevating cross-border payment transparency and security for users through various Swift solutions. By collaborating with Swift, Veritran enhances the customer experience and financial operations, addressing market demands for speed and flexible pricing.
The UAE's Central Bank has partnered with AI firm Core42 to roll out open finance across the country. The partnership aims to establish global standards for the open finance sector, with a phased approach starting with open banking and insurance. See additional coverage on
Security
A critical SSRF vulnerability (CVE-2024-2796) in the Perforce Akana Community Manager Developer Portal enables attackers to leak sensitive data or perform harmful operations. Users of affected versions before 2022.1.3 are urged to update immediately to mitigate risks like data exposure and remote code execution.
Scam Signal, a Vodafone API, improves fraud detection by 30% and is first offered by JT Group, bolstering scam protection. UK banks under new laws must refund fraud victims, driving demand for Vodafone's network-based Scam Signal for real-time defenses. See additional coverage on Vodafone, Voip Review, MobileEurope, and telecoms.com.
Akamai Technologies, Inc. announced its API Security product now complies with PCI DSS version 4.0. This update includes new requirements specifically for APIs. See additional coverage on Medium, Investing.com, ChannelLife, Placera, and StreetInsider.com
Wallarm debuted their Open Source API Firewall at Blackhat Asia 2024, enhancing security for REST and GraphQL endpoints. The firewall blocks unauthorized and malformed API interactions, supporting OpenAPI specs and validating JWT and OAuth 2.0 tokens.
Edgio announced its Client-Side Protection to safeguard customer data against cyber threats and compliance with PCI DSS v4.0. The solution provides real-time script inventories, enables dual execution modes, and integrates into Edgio's comprehensive WAAP security.
Salt Security has introduced the first advanced OAuth API threat detection and protection capability to identify and proactively address vulnerabilities. The package enhances the platform's ability to shield sensitive data from OAuth exploit attempts, evidenced by detected flaws in popular applications like ChatGPT plug-ins. See additional coverage on StreetInsider.com, Security Boulevard, and IT Security Guru.