What is an open banking API?

---

Send up to a million messages using one click through our robust web platform or APIs. Over 90 percent of messages are read over 90 seconds. An API is an application programming interface, a technology which connects different IT systems together so that they can exchange data. One system can ‘call’ or request data from the other system using an API, and receive that data in a standard format. Open banking APIs are used to connect third party providers to banks in a secure and uniform way. Banks provide their own APIs for use by Third Party Providers. In the UK, these must conform to standards set out by the Open Banking Implementation Entity (OBIE). Open banking providers like TrueLayer aggregate bank APIs and provide businesses with a single API connection.

Open banking API providers and specifications

There’s no single ‘official’ API. Instead, banks and Technical Service Providers provide their own APIs which must conform to the specifications set out by the Open Banking Standard.

#Election , #people , #Election2020 , #trump , #Joe