A forecast by Juniper Research predicts a significant increase in network API revenue from the $284 million operators are projected to generate in 2025.
The network Application Programming Interfaces (APIs) business model put simply, means operators generate revenue by providing access to their networks to developers and third parties, which in turn enables external applications to interact with telecoms networks.
The research firm has also identified Know Your Customer (KYC) as a significant opportunity for operators in the use of network APIs and the driver for the five-year boost. Juniper Research says it is a rapidly evolving area of technology as it is seen to “compensate for the constant increase in volume and complexity of online financial crime.”
KYC systems can help assist with the verification of a customer's identity supporting businesses to comply with regulations.
