Banks and Credit Unions have taken a segmented approach to integrating with third-party apps. Banks vary in their tech resources and infrastructure and apps must choose which banks they are willing to integrate with. Plaid aims to enable every bank and credit union to integrate with a single API.
TrueLayer has launched an API that allows developers to connect apps with customer account data from banks and credit cards across the UK. TrueLayer developed the API with the intent to create a platform where data is synced across apps and any integrated app can send payments or make purchases.
Ulster Bank has introduced a new banking open API and portal for developers. The Ulster Bank API allows third-party applications to access limited customer information, initially customer balance information and the last six transactions, upon request and consent of the customer.