Our look at the most interesting APIs of 2016 moves to the Finance and Banking categories. The Finance sector was initially cautious to jump into the API ecosystem, but recently we've seen great strides in FinTech transformation. During the past year, over 175 APIs have been added to the ProgrammableWeb directory in the Banking and Payments categories.
Perhaps in anticipation of the EU's PSD2 (Revised Payment Service Directive), not all, but a great many of these APIs are considered Open Banking APIs; that is, they use open source technologies to enable developers to build financial products that are interoperatible. Heavy hitters in the finance sector that have released Banking APIs this year include Citi, Capital One, Mastercard, VISA, OCBC, and BBVA. More API highlights from Finance and Banking including APIs for Stocks, Cryptocurrency, Credit Cards, and Payments are listed below.
DriveWealth is an investment platform that allows investors to buy fractions of shares, which allows them spend the amount of money they want rather than an amount of money determined by company share prices. The DriveWealth REST APITrack this API allows developers to integrate the ability to trade U.S. stocks into their mobile apps or business systems. The DriveWealth FIX APITrack this API allows developers to trade equities using the Financial Information Exchange (FIX) interface.
Nordigen provides an APITrack this API to segment bank account transactions in 200+ categories. It aims to be useful for financial institutions with banking APIs (e.g. Yodlee, Instantor, Kontomatik), because they can retrieve transactions data from clients' credit score and account aggregation for PFM (personal finance management).
AimBrain is an authentication platform. The AimBrain APITrack this API allows developers to programmatically access the platform's behavioral, facial and voice biometric modalitie . These modules can be used singly or together depending on the intended use case.
Here's a quick demonstraton of AimBrain's authentication service video: YouTube/AimBrain
Mastercard's new developer portal features more than 25 APIs for payments, data services, and security, including a Mastercard Places API that allows for intelligent location-driven applications. Also new, is the Mastercard Audiences APITrack this API, which provides purchasing insight, and forms audience profiles based on annually aggregated transactions. Audiences are represented by behaviors such as number of transactions, frequency of purchase, location, and merchant category. Anticipating a possible bitcoin future, Mastercard also snuck in a few experimental Blockchain APIs this year.
Algorithmic Trading products are emerging, highlighted by a some APIs added to our directory during 2016. Money Push APITrack this API provides data useful to create financial trading applications and algorithms. API methods include create market orders, open market positions, modify stop losses, market pricing, open orders, and accessing the final profit or loss of the trade. The Vetr APITrack this API gives developers access to Vetr's crowdsourced investment research data. Vetr calculates a star rating and target price for stocks through algorithms, news, and user input.
Here's a quick overview of how Vetr provides star ratings for the Stock Market video: YouTube/Vetr
The Fitch Finance Data APITrack this API allows programmatic access to archived securities data of the U.S. equities market. The digitized data that dates back to 1968 is stored in OHLCV format and summarizes the historical details of market performance of more than 20,000 stocks.
TradeIt is a financial technology company that builds APIs and SDKs for retail investing. They the Tradeit APITrack this API that connects developers to all major US stock brokerages and some international brokerages. Developers of fintech apps can use the TradeIt API to enable multi-broker account aggregation and live trading of equities, ETFs, forex and options.
We can't mention Financial APIs without including some innovative Payments APIs that were released in 2016. PayU APITrack this API allows merchants to accept card payments without redirecting users to other webpages. Align Commerce APITrack this API provides an easy way to send and receive International payments via email. Captcha Coin APITrack this API allows developers to integrate Bitcoin wallet and Bitcoin pay captcha services into their websites and applications. Payment SavvyTrack this API offers free payment processing and allows pay by texting among many other features. FitPay APITrack this API offers touch-free payments and authenticates purchasers with unique biometric patterns by using wearables. Dwolla updated their API to support ACH new same day payment rules
FitPay uses biometric technology to ensure only the owner can use it for payments. video: YouTube/FitPay