API is a term common in professional settings and discussions about software development, but what does it mean and how do they work?

Developers use application programming interfaces to hide complexity, organize code, design reusable components, and connect different systems, applications, or services.

API stands for "application programming interface," and it's a framework that allows programs to communicate and connect with each other.

For banks and fintechs, APIs are invaluable tools, offering a versatile framework to integrate and enhance various functionalities.

A job listing on Apple's own website indicates that the company will be rolling out brand new APIs and frameworks for the next version of its iOS mobile operating system.