South Africa's Nedbank Launches Open Banking API Platform

Nedbank, South African bank, has introduced an API Platform, the Nedbank API Marketplace, that applies Open Banking standards. The Nedbank API Marketplace grants certain partners access to Nedbank banking features. With such access, partners can utilize bank services and data to build and supplement their own applications.

"The result [of the Nedbank API_Marketplace] is innovative and exciting services that deliver secure, enhanced client experiences in shorter time frames," NedBank CIO, Fred Swanepoel, commented in a blog post announcement. "Our mandate is to give our technical partners the tools and security to digitally disrupt."

Nedbank's technical partners span many industries. From fintechs and cell service providers to online retailers, Nedbank hopes to make a major impact across the South African marketplace with its approach to open banking.

The platform includes access to multiple APIs. The Authorisation API allows for secure authorisation through OAuth 2.0. The Personal Loans API gives users the ability to pay for products directly from an integrated app by taking out a loan. The Customers API allows developers to pull customer details in real time. The Accounts API calls transaction data. The Rewards API allows clients to manage Greenbacks and Amex awards programs. The Payments API makes sending and receiving money simple and secure. Visit the API docs for more details.

The APIs are REST based and all use OAuth 2.0. The platform is currently in beta. Check out the Nedbank API Marketplace site to learn more.

Be sure to read the next Banking article: ING Starts Open Banking API Initiative in France