November 1, 2017
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Open Banking has launched two API specifications; Accounts and Transaction Information and Payments Initiation. These API specifications will allow banking customers and small business to share their financial data with third-party applications, and will be live from January next year.
OCBC bank launched four open APIs that allow developers to integrate bank products and services with third party apps and programs. The move marks one of the first Southeast Asian banks to open an API. The launch is in line with broader government initiatives to develop FinTech sector development.