Capital One has added another API to its DevExchange portfolio of banking APIs. This one is called the Merchant Insights API and it applies machine learning to transaction data in order to unearth interesting insights about a business such as the hours that it is open during each day of the week.
Screen scraping has bridged the connection gap between banks and fintech for decades, but banks are now starting to deprecate it because of PSD2. bunq has managed to build a growing community around its open API since 2017, and it serves as an example for other European banks striving to innovate.
Netherlands-based bank ABN AMRO has launched the first version of its developer portal and a set of commercial APIs. Developers can use the APIs to add to applications banking capabilities such as generating payment requests, retrieve real-time balance information, and transfer multiple payments.