Scaling data monetization with API management software
Inomera developed an API portal and management solution that is available to customers either on-premises or through Inomera’s cloud delivery platform. The company’s first step when providing the solution is to consult with its customers to help identify data that can be productized and estimate its value. Inomera then implements IBM API Connect and IBM DataPower Gateway technology as the core of the API management solution.
“We’re using API Connect to build and catalog APIs, and then deploying and running them on the DataPower platform. DataPower manages all security, governance and service-level agreements pertaining to those APIs, capturing all that information from the API traffic and pushing it back to API Connect, which collects all the analytics information used for monetization.” Further, the IBM components enable self-registration and onboarding processes for API consumers, which lightens the workload and speeds time-to-value for Inomera’s customers.
On top of these capabilities, Inomera layers its own solution for flexible monetization, enabling customers to implement a range of usage and payment models with their branded APIs. For example, the companies can choose to charge for access to a given API on a pay-per-month basis, a pay-per-call basis or any other metric, such as the volume of data flowing through the API or the amount of value added to the API consumer’s business transactions.
Opening new ways of doing business
Inomera’s customers are using API management to more efficiently build robust commercial partnerships with retailers and financial services companies.
Using Türk Telecom as case-in-point, Mr. Bingol says Inomera’s strategy has been validated in the marketplace. Banks, for example, require two levels of authentication to access an account from a mobile phone: a password and phone number verification. And because people change devices and phone numbers often, virtually every bank in Turkey pays for a Türk Telecom API that verifies mobile numbers. “Türk Telecom found that its APIs are very welcome in the market. They immediately began selling to very large financial institutions.” Moving forward, Türk Telecom and other Inomera customers can not only efficiently manage their API portfolios, they can also continue to add new APIs with relative ease, enriching their services and increasing the value they provide to their customers.
Inomera’s API management solution is helping companies reduce the total time required to develop and deploy new APIs from over a year, and sometimes up to two years, to just six months. And those companies now have true visibility into their APIs—what they’re exposing, and who they are exposing it to, and at what price they are selling it. If they want to expose certain information to banks, they can do it much easier now through the IBM API Connect and DataPower Gateway platform.
Mr. Bingol, putting his sales hat on, says, “API management is something that complements our telco service—a value-added service unit. That’s the benefit for us. From the perspective of our customers, API Connect is unlocking the enormous value of their internal data with unprecedented scalability and flexibility.”