SRINAGAR: Jammu and Kashmir Bank on Tuesday launched its API-based Open Banking Services for corporate clients across India, with Khyber Group of Companies becoming the Bank’s first corporate partner on the newly introduced platform.
The service was officially launched by the Bank’s Executive Director Sudhir Gupta during a function held at the corporate headquarters in Srinagar. The event was attended by senior bank officials, including General Managers Narjay Gupta, Syed Rais Maqbool, and Imtiyaz Ahmad Bhat, along with DGMs and other top executives.
From the Khyber Group, President Manzoor Ahmad Mir, Head (IT) Mohammad Ashraf Bhat, and CA Haroon Bashir from Khyber Cements, along with Kaisar Ahmad and Shabir Ahmad from Khyber Aquaculture, were present to mark the occasion.
Speaking at the event, ED Sudhir Gupta described the launch as “a significant milestone” in the Bank’s ongoing digital journey. “This marks the beginning of a new era where banking services are no longer confined within branch walls but are embedded within the business processes of our partners,” he said.
Gupta emphasised that the new API platform reflects the Bank’s commitment to financial automation, real-time integration, and building a partner-centric digital ecosystem. He congratulated both the Bank’s and Khyber’s IT teams for successfully executing the integration.
General Manager Imtiyaz Ahmad Bhat noted that the initiative would allow corporate clients to manage their financial operations with enhanced efficiency, accuracy, and transparency. “With these API-driven solutions, J&K Bank is positioning itself at the forefront of open banking and business-to-business integration,” he added.
Mohammad Ashraf Bhat, Head of IT at Khyber Cements, praised the collaboration and described the integration as a major step in Khyber Group’s digital transformation. “This will allow us to automate and streamline vendor payments, reduce manual errors, and ensure real-time transaction processing with improved security and scalability,” he said.
The platform, built on a robust API architecture, allows seamless, secure interaction between client ERP systems and the Bank’s financial services. It is designed to support a wide array of ERP, CRM, and custom enterprise platforms—enhancing data integrity, regulatory compliance, and real-time reconciliation.
DGM (IT) Khavar Mehraj Handoo provided a detailed presentation on the API-based Open Banking framework, explaining that the system enables secure payment initiation directly from client ERP systems while supporting transaction tracking in real time.
