From Wall Street to Code: How Payments is Betting Big on Developers and APIs

I had the opportunity to speak at Fintech Meetup in Las Vegas alongside two friends - Brody Mulderig, Executive Director, at J.P. Morgan, and Omri Mor, CEO of Routable. Our session, "From Wall Street to Code: How Payments is Betting Big on Developers and APIs," focused on how the industry is evolving to meet the needs of modern, tech-driven businesses.

Brody kicked things off by highlighting a fundamental shift in how banks are being asked to deliver their services by a new type of customer - software developers. By and large, banks operate on a one-to-one model, meaning their products and services are delivered directly to the end customer. But with the rise of APIs and embedded finance, banks are moving toward a one-to-one-to-many model, where payments and loans are not just delivered to a single end-client, but rather, are embedded within software platforms that, in turn, serve thousands of businesses or millions of consumers. This transformation means that our customers are no longer just finance teams—they're developers and product managers looking to integrate seamless financial experiences directly into their platforms.

Then it was my turn to lovingly roast the financial services industry's history with developers. Let’s be honest - banks haven't always been known for rolling out the red carpet for fintechs. For years, getting access to documentation felt like unlocking a secret level in a video game, onboarding was a test of endurance, and developer tools… well, let’s just say they often came with more friction than function. But things are changing, and I had the chance to showcase how we’re flipping the script with the J.P. Morgan Payments Developer Portal - a place where developers can find what they need, get started quickly and integrate with confidence.

Omri wrapped things up with a firsthand account of what it’s like building and scaling a fintech while partnering with large financial institutions. He spoke about the growing complexity of the payments landscape and how Routable is tackling real-time fraud detection and compliance challenges for accounts payable automation. He also highlighted Routable’s recent integration of our Account Validation Services API - going from concept to production in less than three weeks. His story reinforced just how much progress we’ve made in delivering APIs that meet the speed and reliability fintechs expect from a modern banking partner.

What’s truly remarkable is that just 19 months ago, in August 2023, we Alpha launched the Payments Developer Portal at fintech_devcon in Austin. At the conference, several of our customers were interviewed by WIRED and asked about the growing importance of APIs and developer experience in payments. One of those customers was Tom Harel, Omri’s Chief Innovation Officer (CIO) at Routable.

I’m incredibly proud to be part of the team driving this transformation - not just for J.P. Morgan Payments, but for the entire industry. In just 19 months, we’ve gone from an Alpha launch of the Payments Developer Portal to powering real-world integrations that fintechs rely on every day. Relationships like the one with Routable prove that we’re not just talking about innovation - we’re delivering it. And we’re just getting started.

Interested in what we’re building? Explore the Payments Developer Portal and discover how we’re driving change in the industry. Looking forward to keeping up the momentum!