Let's build a List of Banking APIs


#10

Thanks @AL.of.InvestGlass that makes sense from what I know of core banking systems - banks don’t want to touch them if they can avoid it.

Great idea, I will reach out to him and get him into this conversation. BTW, anybody who partucipates in Fintech Genome can do the same thing i.e. invite somebody to join Fintech Genome.


#11

There’s also BBVA Compass


#12

As well as Plaid - https://plaid.com/ - not totally an API, but similar functionality


#13

Hello to all,
I suggest to create the list with a regional focus. EU, CH, Eastern - Central Europe,China, Japan, Rest of Asia, USA, UK, Australia …
Otherwise it will become a too long of a list.


#14

Excellent idea @andrefassler Let me set up a framework and populate it with what we have and let people add to it


#15

@andrefassler I have put all the suggestions I can find into the wiki I created above. @Konstantin as you started the thread, can you take my Wiki and put into your original post and make the post into a Wiki? I upgraded you to Level 3 so you have the user privilege to turn a post into a wiki. The reason I ask is that newcomers won’t know to scroll down to my wiki post, but will see your original post and try to edit as a wiki (which they won’t be able to do) or comment (which is suboptimal as somebody still needs to copy/paste into wiki. Ping me (bernard@dailyfintech.com) if you need help.


#16

This is going to be very useful! Personally I would be mostly interested in Banking API’s focusing on developing markets (mostly frontier markets and some emerging), as that’s where I’m active. I’ll have a look at what I can find for that space. For now I know of Yodlee which isn’t mentioned here so far. They offer a whole range of banking APIs and application modules (FinApps they call them) and analytics tools to go with them.

They have also expanded into developing countries, e.g. announcing a partnership with a South African API marketplace.


#17

By the way, Roy Teo and Ravi Menon (I believe) from MAS were live-streaming an event from India last night and made some interesting comments about banking APIs.

  1. Some banks will not survive the FinTech disruptions. Those who do not embrace APIs will die.
  2. MAS is asking banks for a list of their APIs on a regular basis (implicitly encouraging them to build APIs).
  • I’ve asked if the list is public with no response yet. Please let us know if you get your hands on the list.
  1. MAS itself is developing APIs that will be used for regulatory reporting purposes to simplify the process. Again, encouraging banks to use APIs.

Interesting times.


#18

Teller teller.io: An alternative to screen scraping, which leverages the APIs used for mobile banking apps and exposes them as a public API for developers


#19

SynapsePay is a white-labeled API that connects developers with banks (to automate services like payments, opening bank accounts, reducing risk, managing compliance, etc)


#20

Topicus Finance is a Dutch company offering a bank-in-a-box software solution to banks and alternative lenders in the Netherlands. Their software is used by pretty much every major bank in the Netherlands in one way or another. They also just launched a real estate mortgage crowdfunding platform (Dutch), for which they got a license from the Dutch AFM (financial market authority).

The actual bank-in-a-box is marketed as Fyndoo, a modular SaaS solution with an open API. It for example connects to an SME’s accounting software so it can source data directly for SME credit scoring and monitoring purposes.


#21

Capital One is the only one (I think) in the US with an open API platform on the programmable web.
Credit Card API “The Credit Offers API provides developers with tools to offer Capital One credit products (credit cards, in particular) to their customers. Currently, the API contains a single resource and endpoint that lists the credit cards that are tailored for a specific customer. This API is currently in beta.”

ING seems to be flirting with the idea but really keeping it internally (so more like a private blockchain).
"ING is building a new wave of dashboard products for business intelligence that are all API-enabled, but these are being prototyped and developed for in-house teams and in an alpha release by their innovation lab. "


#22

On ING, I think they’re going beyond flirting and want to open open up their systems & data to 3rd parties, although probably selectively.

In this interview (Dutch), ING CEO Ralph Hamers states a couple of interesting things which indicates they believe in open banking data: “If a consumer wants to use other banking products within ING Bank’s platform, then that shouldn’t be a problem”. More in English (including video from Money 20/20) here. ING has a stake in Kabbage which they use for their SME lending in Spain (Santander is working with Kabbage in UK). He states he’s actually looking forward towards the introduction of PSD2 as that will be positive for the consumer.

At the recent Dutch Blockchain Conference, ING gave some insights on what’s going on within the R3 consortium and they highlighted the importance of open source initiatives such as the Hyperledger project. Although they admitted most of the time spent in R3 so far was around figuring out what exactly the Blockchain is and what it can do, and not many tangible experiements yet.

Furthermore, they run several FinTech accelerator programs and partner with c. 50 FinTechs now. I cannot imagine that must solely be for ING’s internal gain, the FinTechs must be getting something out of it as well, e.g. access to ING’s huge swaths of data.


#23

Worldwide
Interactive Brokers https://www.interactivebrokers.com/en/index.php?f=1325


#24

There is
LHV in Estonia: https://www.lhv.ee/

Solaris in Germany: https://www.solarisbank.de


#25

Also

WireCard in Germany https://www.wirecardbank.com/

soon:
N26 (former Number26) Germany


How to generate great conversations here
#26

Strictly speaking not a banking API, but very closely related and worth watching - the Financial Industry Business Ontology

Point being that for banking API’s to help democratize finance, they will have to be universal like the web itself


#27

In the USA, we use Quovo. Germany has 3 thus far.


#28

https://api-open.db.com/ Deutsche is putting a foot into the water. I would suggest to create a sandbox that has all the data one may want to fully serve a clients financial needs. An enhanced (for Banking, Investment Management, Insurance & Cash services) like to BiPRO (insurance D) standardization. Banks could chose; if and what they want to make available to the FinTechs.


#29

Hi All, Ismail with the @OpenBankProject here - thanks for the ping @AL.of.InvestGlass
We are an open source API platform for banks. We work with some of the banks you mentioned earlier such as BNP Paribas. Our latest project is with JB Financial Group in South Korea
We support 115 standard banking APIs used by more than 5500 worldwide as of today. You can check out our sandbox here https://apisandbox.openbankproject.com/

If any questions, please feel free to reach out!