Years ago, I worked on APIs for a top 10 bank in the US. In our discovery/delving into their logic, the most fascinating thing was interest rate.
Some of their systems stored - and therefore the APIs - presented interest rate as a simple number (5% was 5) where other used a decimal (5% was 0.05) and still others used basis points (5% was 500).
One of their VPs told me they once saw an unexpected uptick in loan applications and dug in to find out the quoted rate was 0.05%
Some of their systems stored - and therefore the APIs - presented interest rate as a simple number (5% was 5) where other used a decimal (5% was 0.05) and still others used basis points (5% was 500).
One of their VPs told me they once saw an unexpected uptick in loan applications and dug in to find out the quoted rate was 0.05%
Consistency is key.