FinTech Magazine - December 2022 | Page 14

TIMELINE

The history of in fintech

APIs are transforming the business world as we know it , connecting companies and building the digital ecosystem . Without the invention of application programming interfaces ( APIs ), the global business and financial space would look very different today

1968

THE TERM API IS INVENTED
The name ‘ Application Programming Interface ’ was first used in a research study entitled ‘ Data structures and techniques for remote computer graphics ’. The paper , publicly presented at the AFIPS conference in 1968 , described the theoretical ‘ interaction of an application ’ with a computer system

1990

THE API CONCEPT IS EXPANDED
Although still at the concept level , computer scientists were steadily developing an interest in the potential of APIs . Technologist Carl Malamud defined that potential as " a set of services available to a programmer for performing certain tasks ". But , as computer networks began to grow , the demand for connectivity between them increased . This led to programmers exploring Java , the potential of the internet , and how this could be harnessed to create new services
14 December 2022