March 11, 2015
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On Thursday, Singapore-based DBS Bank, Southeast Asia's biggest bank, announced a banking API developer platform that it says is "the largest by a bank anywhere in the world." The platform consists of over 150 APIs that cover numerous functional categories including accounts and payments.
With the many vulnerabilities of scraping bank account data causing concerns for some large banks, Wells Fargo recently announced that it intends to create an API to enable integration with accounting software Xero to give small businesses better visibility of their banking data.
Dwolla has long used a ledger based organization system to track funds allocated through the Dwolla API. Now, Dwolla is exposing this functionality through a new API feature it calls Labels. Labels allow developers to track and identify fund allocation without duplicating accounts.