Tradier uses the Apigee API management platform from Google to abstract the legacy complexities of capital markets so that developers can build FinTech applications in an agile, nimble, and quick fashion at minimal cost. The company embodies the evolution of what cloud technology can enable in the form of an API-first business delivered as a service.

The rise of API-powered FinTech

Historically, companies that wanted to build systems, applications, or services to interact with the stock market would have to build an entire brokerage operation from scratch. This would include data infrastructure, compliance infrastructure, and storage capabilities. It could take years and massive capital expense to accomplish everything that was required to be ready to serve customers.

Tradier provides this infrastructure as an API-based service so that the same companies can launch investor applications in as little as a few weeks. This democratized access means that FinTech innovation can come from anywhere, giving the same opportunities to create new products to everyone, from enterprise customers to startups.

“Financial markets are becoming fundamentally decentralized and unbundled,” says Dan Raju, co-founder, CEO, and chairman at Tradier. “The services that large legacy banks and brokerage firms used to offer are being supplanted by Tradier’s microservices and APIs, which power innovation.”

More than 200 companies use Tradier to develop and launch new products, or to add new features and functions that they traditionally would not have offered in existing products. With a large and diverse user base, Tradier faced the challenge of managing its partners in way that helps ensure it can grant credentials, track, monitor, and report in an efficient and equitable manner.

At the same time, the company recognized the inherent value of its partners for their power to leverage Tradier APIs to innovate. Tradier’s fundamental market disruption is the partner ecosystem, where the company is engaged along with its partners to deliver value to the entire ecosystem in the form of new products and services.

Embracing an API-powered ecosystem

Tradier has moved beyond providing great APIs toward engaging its ecosystem. If a customer wants a specific dataset, the company doesn’t automatically build a new product. Instead, Tradier looks to the ecosystem to build the product. With this approach, Tradier has taken its capabilities and multiplied them by hundreds.

“The fundamental difference between thinking about an API ecosystem versus an API product is the difference between being a participant who’s enabling innovation and not just a company delivering a set of technical capabilities,” Raju says.

Tradier takes an outside-in approach toward engaging its API ecosystem. Constantly listening to participants and helping to enable and empower them to create value is fundamental to the company’s business model. Rather than simply focusing on building new capabilities on its own, Tradier listens to what functionalities customers need and facilitates development. In many cases, the ecosystem generates the requested product organically rather than Tradier needing to do it.

“I love APIs because they allow you to empower others to create value. The concept of empowering others to create value along with you is what is the most satisfying, and the most fascinating, thing about APIs,” says Raju.

Delivering value at scale

Tradier handles between 500 million to 1 billion API calls and a billion dollars in transactions a month, and all of them run through the Apigee API management platform. Apigee’s last mile forms the single layer that manages Tradier’s infrastructure, including security, analytics, developer interactions, and execution. The company also uses Apigee to comply with an array of regulatory reporting, mandated by Tradier’s status as a FINRA (Financial Industry Regulatory Authority)-regulated entity.

“Apigee is integral to the Tradier offering. They have been great partners and have always collaborated and enabled us to innovate at a pace that helped Tradier attract developers and innovative companies. We see tremendous potential in the synergy of Apigee and Google as it brings to the market a vast extended capability set based on the Google Cloud Platform.”

Tradier is an API-centric ecosystem that delivers value to an entire set of players where the nucleus is the Apigee API management suite, which helps deliver, innovate, publish, manage, monitor, and secure the ecosystem on a day-to-day basis. Simplicity combined with product evangelism is the key to success in the API space, Raju says.

Tradier’s capabilities to innovate, iterate, and travel the journey with its customers, partners, and developers has yielded many rewards. The company’s long history of working with Apigee has enabled it to assemble a set of people and resources for creating engagement, as well as to create a winning set of APIs for delivering FinTech capabilities.

Considering the transformative future

Looking toward a future in which the financial services industry will experience ongoing disruption, Raju predicts that Tradier will continue to leverage APIs to lead the way.

“I think traditional banks are under attack. They are being replaced by a set of nimble, agile players that are offering a lot of new functionality to customers. This is forcing banks to think about how they can digitize their products through APIs so that they can provide the same functionalities as newer players.”

With companies like Tradier and others offering functionality that used to be in-house and exposing it outside, traditional brokerage firms are also being forced to rethink their model. Raju believes that this line of thinking also extends to the Blockchain.

“Exposing Blockchain-like capabilities through APIs is going to be a disruptive influence, and it will be critical for companies to think about how APIs, and more importantly Blockchain, can create value for us.”

Over the decades, technology has helped us organize large amounts of physical information in ways that are streamlined, efficient, and easily accessible. Rows upon rows of encyclopedias are no longer needed; simply punch in or speak a query into Google Search and find numerous results at your fingertips. There’s no need to haul around cases of CDs or cassettes either, when you can access hundreds of thousands of songs on music streaming services. 

We wanted to bring that same level of accessibility to one specific type of publication: the printed car manual. Here’s how we shifted the paper manual to become an easy-to-access, voice-activated digital experience for owners of the all-new Sienna. It’s helped this resource become just as modern and useful as Toyotas themselves.

Putting cloud technology in the driver’s seat

Far too often, the printed car manual remains unused, collecting dust in the glove compartment—that is, until it’s needed during a roadside emergency or to solve the meaning of a mysterious light popping up on the dashboard. Even then, thumbing through hundreds of pages during high-stakes moments can be stressful. On top of that, these manuals can be expensive to print and update.

Digital versions, such as a PDF file, are a nice start. But, they’re often little more than reformatted flat documents. In poor visual conditions on the side of a road, the last thing a driver wants to do is squint at a phone or scroll through pages of tiny text. And similar to printed manuals, digital versions don’t facilitate ongoing, real-time conversations between drivers and automakers when it matters the most; they’re often only text and pictures, and at best, schematic drawings.

With that in mind, we set out to elevate and personalize the car manual by creating a voice-activated digital owner’s manual experience, all powered by Google Cloud. A voice-based assistant was the clear choice because, as it felt like the most intuitive, natural option, especially while driving. In fact, 51% of U.S. adults have used a voice assistant while driving, and 95% of all drivers expect to use a voice assistant in the next three years. 

We’re now putting this technology on the road by powering the Toyota Driver’s Companion for the all-new 2021 Toyota Sienna model. Accessible through the existing Toyota app, this companion provides real-time assistance, any time of the day. Drivers can ask questions and the companion will efficiently provide helpful answers in convenient ways, from voice to 3D walkthroughs and explorable environments. 

What a modern car manual should do

The Toyota Driver’s Companion has interactive features to help drivers discover the Sienna’s dashboard, set up the car’s interior and exterior appearance, better understand vehicle maintenance, and explore Dynamic Radar Cruise Control, Lane Departure Alert and other features. 

Here are a few other additional key features to call out within the Toyota Driver’s Companion: 

• An easily accessible virtual voice through the Toyota Driver’s Companion lets app users ask personal questions about their 2021 Sienna such as “what’s the height of my car?” and receive immediate answers either by voice, display or interactive input. 
• The manual automatically connects with the purchased vehicle’s VIN number to create a completely personalized experience, curated specifically for the driver. For example, if an unfamiliar light on the dashboard pops up, the Toyota Driver’s Companion can help identify the light’s meaning.
• Interactive hotspots throughout the vehicle’s interior let drivers explore the cabin virtually. Drivers can discover button functionalities, find specific dials, and learn more about car functions, such as how to slide seats or open doors, to become acclimated with their new vehicle.

To bring this experience to life, we tapped into some of our key Google Cloud solutions:

• APIs powered by Google Cloud artificial intelligence technology make accessing specific vehicle information easy and effortless, by leveraging Google’s natural language processing:
  • Google Cloud DialogFlow API serves as the decision tree that gives intelligence for both finding an answer for a question, i.e., how the Companion responds to the end user’s questions. 
  • One of our Text-to-Speech APIs—called Wavenet—creates the Companion’s realistic voice. 
  • And finally, our Speech-to-Text API “listens” to the user’s voice and finds the correct information to craft responses. That means a driver can ask a question multiple ways, and the Companion will still respond with the right answer. 

Our Firebase mobile app dev platform gleans analytic insights that help improve the overall experience and services for OEMs and drivers alike.https://www.youtube.com/embed/66QxWS-PzIM?enablejsapi=1&

We’re encouraging better consumer experiences by providing faster access to fresh information, in a natural, accessible format—voice. But these new voice-activated experiences aren’t only an opportunity to help out drivers; it’s also about strengthening connections between drivers, their vehicles, and automakers, too. 

Our hope is that through this information exchange, drivers can provide feedback on the most frequently misunderstood features, enabling OEMs to address questions early on. By understanding the most requested features, OEMs can also predict and inform driver questions about features. We’re incredibly excited to help make the driver’s experience more connected and helpful.

Organizations in every region and industry are developing APIs to enable easier and more standardized delivery of services and data for digital experiences. This increasing shift to digital experiences has grown API usage and traffic volumes. However, as malicious API attacks also have grown, API security has become an important battleground over business risk.

To help customers more easily address their growing API security needs, Google Cloud is announcing today the Preview of Advanced API Security, a comprehensive set of API security capabilities built on Apigee, our API management platform. Advanced API Security enables organizations to more easily detect security threats. Here’s a closer look at the two key functionality included in this launch: identifying API misconfigurations and detecting bots.

Identify API misconfigurations

Misconfigured APIs are one of the leading reasons for API security incidents. In 2017, Gartner® predicted that by 2022 API abuses will be the most frequent attack vector resulting in data breaches for enterprise web applications. Today, our customers tell us application API security is one of their top concerns, which is supported by an independent study from 2021 by Fugue and Sonatype. The report found that misconfigurations are the number one cause of data breaches, and that “too many cloud APIs and interfaces to adequately govern” are frequently the main point of attack in cyberattacks.

While identifying and resolving API misconfigurations is a top priority for many organizations, the configuration management process can be time consuming and require considerable resources.

Advanced API Security can make it easier for API teams to identify API proxies that do not conform to security standards. To help identify APIs that are misconfigured or experiencing abuse, Advanced API Security regularly assesses managed APIs and provides API teams with a recommended action when configuration issues are detected.

Advanced API Security identifies misconfigured API proxies, including the missing CORS policy.
APIs form an integral part of the digital connective tissue that make modern medicine run smoothly for patients and healthcare staff. One common healthcare API use case occurs when a healthcare organization inputs a patient’s medical coverage information into a system that works with insurance companies. Almost instantly, that system determines the patient’s coverage for a specific medication or procedure, a process which is enabled by APIs. Because of the often-sensitive personal healthcare data being transmitted, it is important that the required authentication and authorization policies are implemented so that only authorized users, such as an insurance company, can access the API.

Advanced API Security can detect if those required policies have not been applied, an alert which can help reduce the surface area of API security risks. By leveraging Advanced API Security, API teams at healthcare organizations can more easily detect misconfiguration issues and can reduce security risks to sensitive information.

Detect Bots

Because of the increasing volume of API traffic, there is also an increase in cybercrime in the form of API bot attacks—the automated software programs deployed over the Internet for malicious purposes like identity theft.

Advanced API Security uses pre-configured rules to help provide API teams an easier way to identify malicious bots within API traffic. Each rule represents a different type of unusual traffic from a single IP address. If an API traffic pattern meets any of the rules, Advanced API Security reports it as a bot.

Additionally, Advanced API Security can speed up the process of identifying data breaches by identifying bots that successfully resulted in the HTTP 200 OK success status response code.

Financial services APIs are frequently the target of malicious bot attacks due to the high-value data that is processed. A bank that has adopted open banking standards by making APIs accessible to customers and partners can use Advanced API Security to make it easier to analyze traffic patterns and identify the sources of malicious traffic. You may experience this when your bank allows you to access your data with a third-party application. While a malicious hacker could try to use a bot to access this information, Advanced API Security can help the bank’s API team to identify and stop malicious bot activity in API traffic.

API Security at Equinix

Equinix powers the world’s digital leaders, bringing together and interconnecting infrastructure to fast-track digital advantage. Operating a global network of more than 240 data centers with a 99.999% or greater uptime, Equinix simplifies global interconnections for organizations, saving customers time and effort with the Apigee API management platform.

“A key enabler of our success is Google’s Apigee, delivering digital infrastructure services securely and quickly to our customers and partners,” said Yun Freund, senior vice president of Platform at Equinix. “Security is a key pillar to our API-first strategy and Apigee has been instrumental in enabling our customers to securely bridge the connections they need for their businesses to easily identify potential security risks and mitigate threats in a timely fashion. As our API traffic has grown, so has the amount of time and effort required to secure our APIs. Having a bundled solution in one managed platform gives us a differentiated high-performing solution.”

Getting started

To learn more, check out the documentation or contact us to request access to get started with Advanced API Security.

To learn more about API security best practices, please register to attend our Cloud OnAir webcast on Thursday, July 28th, 2:00 pm PT.

Earlier this year, we launched the Google Cloud skills challenge, which provides 30 days of free access to training to build your cloud knowledge and an opportunity to earn skill badges that showcase your Google Cloud competencies. Today, we’re adding a Native App Development track to the skills challenge, joining the Getting Started, Data Analytics, Kubernetes, Machine Learning (ML) and Artificial Intelligence (AI) tracks. 

The Native App Development track is designed for cloud developers who want to learn to build serverless web apps and Google Assistant applications on Google Cloud using Cloud Run and Firebase. Specifically, you’ll have an opportunity to earn three skill badges in the Native App Dev track: Serverless Firebase Development, Serverless Cloud Run Development, and Build Interactive Apps with Google Assistant. To earn a skill badge, you complete a series of hands-on labs and take a final assessment challenge lab to test your skills.

Here’s an overview of each badge.

Serverless Firebase Development

To earn this skill badge, you’ll learn how to build serverless web apps, import data into a serverless database, and build Google Assistant applications using Firebase, Google’s backend-as-service platform for creating mobile and web applications.

Serverless Cloud Run Development

For this badge, you’ll discover how to use Cloud Run, a fully managed serverless platform, to connect and leverage data stored in Cloud Storage. You’ll learn how to use Cloud Run to build a resilient, asynchronous system with Pub/Sub, build a REST API gateway as well as build and expose services. 

Build Interactive Apps with Google Assistant

To earn the final skills badge, you’ll build Google Assistant applications by creating a project in the Actions console, integrating Dialogflow, testing your action in the Actions simulator, and adding Cloud Translation API to your assistant application. 

Ready to jump into the skills challenge? Sign up here. 

You can also check out this quick video below to learn how to join the skills challenge.