There's a revolution going on in the financial services sector. Savvy customers are demanding online and mobile services, and every successful bank has answered with a digital transformation strategy. This strategy usually includes an Open Banking inititiative with APIs at its core.
Application Programming Interfaces, or APIs, provide the integration tools necessary for creating banking applications that customers crave. The best place to discover these APIs is in the Banking category of ProgrammableWeb. There, APIs from dozens of financial institutions are listed for every imaginable banking task, including locating ATMs and branches, transferring money, personal finance management, currency trading, payment fulfillment, account activity alerts, funds authorization, compliance, credit card management, digital wallets, mortgage banking, securing loans, and even integrating with other banks.
The ten most popular Banking APIs based on page visits on ProgrammableWeb are listed below.
1. Plaid API
The Plaid APITrack this API allows developers to integrate transaction and account data from most major financial institutions into third party applications. The data includes merchant names, street addresses, geo-coordinates, categories, and other info. The API uses REST calls and returns JSON. An account is required with service.
2. American Express ATM Locator API
The American Express Amex ATM Locator REST API enables users to search for ATM locations that support American Express products in a given area using a location-based search criteria such as address, city, ZIP code, or the name of a financial institution. It provides a list of available ATMs within the provided search criteria for use in applications.
3. Lyons Routing Number Verification API
Lyons Commercial Data is a provider of U.S. financial institution data including bank routing numbers and other information critical to transaction processing. The Lyons Routing Number Verification APITrack this API provides real-time access to the iBankRegistry hosted in a secure and fully redundant data center, and give applications a link to vital transaction processing information.
4. Credit Reporting Services
Credit Reporting Services (CRS) is a credit reporting agency certified as a re-seller for Experian, TransUnion, and Equifax. The company offers services for industries requiring credit data. The company's XML Credit Report APITrack this API is available for providing credit report data.
5. OCBC Travel Insurance
The Oversea-Chinese Banking Corporation provides this Travel Insurance APITrack this API to enable users to search for coverage while traveling. This API allows access to travel policy details including premiums, benefits, coverage and more. The API can retrieve insurance policies tailored to a users' needs.
6. Nedbank Customers API
Nedbank is a financial services firm based in Africa. The company announced its Open Banking platform, the Nedbank API Marketplace, in April of 2019. The Nedbank Customers APITrack this API enables applications to retrieve customer details for profile information, names and addresses, from the Nedbank real time banking core.
7. BNP Paribas Open Bank Project
BNP Paribas recently announced the release of a developer portal that helps to streamline the discovery of financial institution resources including PSD2 compliant APIs. The BNP Paribas Open Bank Project REST APITrack this API provides a RESTful interface for developers to build customer facing applications without needing to code for each bank and/or account type differently. It methods such as get an API configuration, create an ATM, get a Firehose account, create a bank and more.
8. IBAN SWIFT/BIC Validation API
IBAN.com operates as a web-based portal for real-time identification, validation, and calculation of International Bank Account Numbers (IBAN). This platform uses algorithmic formulas to determine the validity of IBANs. The IBAN SWIFT/BIC Validation APITrack this API allows developers to integrate BIC code authentication functionality in applications. It simplifies access to the BIC code directory and makes it easier for users to validate SWIFT and BIC codes in banking transactions.
9. MlCalc.com Mortgage Loan Calculator
Mlcalc.com provides mortgage and loan calculators to assist users in determining the expense of loan and mortgage obligations. The site includes a mortgage rate finder, website promotion tools, and mortgage widgets. The mortgage loan calculator APITrack this API allows users to embed a payment calculator into user websites and applications. User must specify the desired loan parameters in the appropriate calculator form and click generate the code.
10. ING Open Banking Showcase API
ING Open Banking provides a developer platform to programmatically access ING banking account data. The ING Open Banking Showcase APITrack this API exposes operations on the Open Banking Platform. It shows the functionality of the platform in action on the marketplace and is accessible to internal and external applications.