Have All your account in one place
PSD2 is not any other typical European document; it is the future of banking and its mode of service delivery in the coming days.
PSD2 allows bank customers — consumers and businesses, to use third-party providers in managing their finances. In the coming days, you may be using social platforms like Facebook to pay for your bills, through analysis of your spending and making P2P transfers. At the same time, your money will remain safely placed in your current bank account.
Bank, a service and information centre is connected through different apps. It won’t be long before many developers grab the available opportunity to use bank infrastructure to issue their developed services to customers via the API technology.
Banks have an obligation to issue these third-party providers access to their customers’ accounts via open APIs. A move which will allow the third-parties to set up financial services using banks’ data and infrastructure.
It’s our intention at FSBT.tech, that we become an industry influencer and provide API technology.
When this happens, the competition will no longer be between banks but all the parties that offer financial services. PSD2 is going to transform the payments value chain.
One account containing all your bank accounts
We recently made some remarkable updates on our code and documentation.
The updates have made it much easier for different parties using our API to get information about all opened bank accounts, sending requests to banks and receiving information about account number, bank name, information about currency and balance and many more.
This development is a new dawn in the fintech industry; it is now possible to have all your bank accounts and information in one place which increases the flexibility and convenience of your banking operations.
APIs commands enable the ATM, for example, to communicate with your bank. They are programmed so that there’s part of the app’s software which translates your input into output. In simple terms, your request is translated for cash to the database of the bank’s, which in turn verifies whether there’s sufficient cash in your account for you to make withdrawals you requested. The bank gives permission; then the ATM relays back the information to the bank about how much you withdrew so that the bank updates your balance.
Get Account access for User.
Our APIs works effectively and returns the list of the views at BANK_ID for account ACCOUNT_ID that a USER_ID at their provider PROVIDER_ID can access. All our URL parameters are %-encoded, which is often relevant especially for USER_ID and PROVIDER_ID.
Our APIs easily enables calls to a server; the execution is fast and straightforward. They connect to the web, which allows the developers, applications, and even sites to access the databases and services.
Authentication is Mandatory
So that the users can make requests with our API, they’ll need to register so that they have an API key or alternative ways of authenticating the requests. It is necessary for security purposes because of the need for protection of sensitive data, identity check, and to ensure that the requests are not interfered with. The user should have access to the owner view.
Get Accounts at Bank (Public)
Our API Returns a list of the public accounts (Anonymous access) at BANK_ID. For each account, the API returns the ID and the available views.
Authentication via OAuth is not required.
OAuth is an open-standard protocol of authorization which outlines how separate servers safely grants authenticated entry to their resources without sharing the initial, related, single login license. In authentication expression, this is known as safe, third-party commissioned authorization.
OAuth enables sharing of assets among users of websites and services.
This endpoint works with a firehose.
Firehose API is a reliable stream of all accessible data from its source in real-time. It provides continuous, new and updated data to any number of subscribers at a given time.
Get Views for Account.
Views in Open Bank Project give a mean for fine-grained entry control and delegation to Accounts and Transactions. Account owners use the ‘owner’ view by default.
Delegated access is through other views for example ‘accountants’, ‘shareholders’ or ‘tagging-application’. Views are created through the API, and each view contains a list of entitlements.
Views on accounts and transactions filter the underlying data to redact specific fields for specific users. For example, the balance on an account may be hidden from the public. The way to know what is possible on a view is determined in the following JSON.
Feature use case
This feature will enable customers to manage their finances easier. Open more accounts, choosing a bank that provides a specific service with better conditions.
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