The banking-as-a-service ecosystem got a big boost this week through the release of APIs that allow clients’ programmers to build on top of the bank’s platform.

Why should we care?
Embedded finance, or the act of appending banking and financial services into new use cases, is a thriving industry as technology infrastructure becomes cheaper and easier to deploy. The new API launch will help Goldman move into transaction banking, focusing on corporate bank accounts and cross-border payments. The new solution could help the bank grow the number of digital wallets and payments across a range of corporate clients. Goldman, in recent years, has taken an active role in supporting brands in their efforts to roll out financial services products, including with Apple on its credit card offering, Walmart on loans to online sellers, and JetBlue on installment loans.