APIs and the developer toolkit
This is a temporary page for the developer toolkit which is being finalised, and should be live within a few weeks. Please see below information about the API toolkit and what it supports.
What are APIs for?
APIs are used by computer systems to talk to each other. For example:
- a taxi-booking app wants to know about the traffic conditions
- an API call transmitting a location can be made to an API published by google – google has the traffic data; the API responds with data about the traffic relevant to the location
- the data can then be seamlessly incorporated into the taxi-booking app, and the user never knew that google was involved
What is PrimaDollar’s API toolkit for?
PrimaDollar’s APIs allow web and portal developers to integrate and embed our trade finance product into their digital customer journeys.
For example, a logistics platform has a portal through which customers can book freight and upload documents.
Using our API:
- the customer can be shown his credit dashboard when he logs into the logistics portal
- he can then choose to take finance in the logistics portal and can:
- price trades
- sign legal agreements (click to sign)
- upload commercial, transport, statutory documentation in support
- monitor progress and cash movements (upfront and ongoing)
- close out positions and agree settlements
- all of this without leaving the logistics portal
And the same can be done for importers – again, all inside the logistics portal.
How do I use PrimaDollar’s API?
After a simple sign up process, PrimaDollar will provide you with the requisite API credentials to access the Rest API directly along with a sandbox environment to allow you to test your development.
The PrimaDollar API has been developed utilising a Java microservice architecture in conjunction with Kubernetes to manage the service containers along with the application deployment and scalability.
- 3rd party access into the PrimaDollar API servers is managed via OAuth2.0 and Azure Active Directory.
- User access, e.g. for the customers of the 3rd party, is implemented using the provided Login and Authentication services.
- Each API call must provide an authenticated JWT token in the header of the request.
The API toolkit comes with a complete online documentation, per service, built on top of Swagger and ReDoc.
And what does this lead to?
Logistics companies can use our API toolkit to invent new products.
For example, instead of the exporter paying money for transport and separately walking up the road to the bank – it can all be done in one place. The shipper does not take money from the exporter – the shipper pays cash upfront for the value of the shipment, and the shipper takes care of collecting the payment from the buyer and takes the buyer credit risk.
This would be a revolution in the way that trade finance is provided to exporters.
And a similar revolution has already happened in many industries where finance is provided at the point of need, and bundled with other products. For example, when you a buy a car today, finance is bundled with the car purchase by the garage selling the car; the typical car buyer doesn’t see the join, nor is he very interested. He gets to drive the new car away for a small deposit and a regular monthly payment.
And who else might use our API toolkit?
Banks (local and global), and marketplaces are amongst the organisations that can be interested in embedding trade finance into their customer journeys.
- Local banks provide pre-shipment finance to exporters. By using our APIs, they can create seamless, digital customer journeys for their exporter clients where pre-shipment finance and packing credits are integrated with our post-shipment trade finance.
- International banks provide and arrange supply chain finance for importers – and they can use our APIs to trigger payments, review compliance documents, and monitor supply chain trade finance facilities provided to large corporate clients.
- Marketplaces can embed trade finance from us into the process by which buyers and sellers of goods across the marketplace close their trades, allowing suppliers to be paid upfront and buyers to be pay later.
How can I find out more?
With a global network and global coverage, talk to us.