Open Banking is the name of a secure set of technologies and standards which allow customers to give companies other than their payment service provider permission to securely access their accounts. This means customers can, if they choose, easily use financial services from different types of regulated companies without the need to share credentials with any third parties.
They may, for example, choose to aggregate a view of all of their accounts through one provider or allow a company to analyse their account data to offer automated tax returns, budgeting advice or cheaper overdrafts. With the increasing use of distributed web services and cloud computing, third-party applications can benefit from access to these server-hosted resources. In order to provide third-party applications access to restricted resources, the end user shares their credentials with the third party.
This creates several problems and limitations:. Open Banking provides a standard method for resource owners an end-user to delegate access of protected financial data to a third-party client without sharing their credentials. This client acting on behalf of the user can then request access to resources controlled by the resource owner, but hosted on our servers using different credentials than those of the resource owner.
This is an access token — a string denoting a specific scope, lifetime, and other access attributes.
Our servers will verify the resource owner authorization, and the identity of the client making the request. Jane, an end-user resource owner can grant an accountancy service client access to her private statements stored at an account information sharing service server , without sharing her username and password with the account information service.
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Instead, she authenticates directly with the account information service which issues the accountancy service delegation-specific credentials. Jane wants to do her tax return and has a lot of information stored on www. She would like to use the accountancy. Typically, Jane signs into www. However, Jane does not wish to share her username and password with the accountancy. In order to provide its users with better service, accountancy.
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Before accountancy. For instance:. If successful, the Consent Server sends a consent page which asks Jane to approve granting accountancy. The Browser renders the Consent page and requests Jane select which the scope of her consent. The Browser sends the consent as a request to the Consent Server and includes the session cookie.
The callback request informs the client that Jane completed the authorization process. The resource Server responds with the requested information. Request an Access Token to Authenticate.
Why use the API?
This is a modified version of the Token resource used for other APIs. If you provided all the Request Body parameters, you should receive an Access Token in the response body. The HTTP status and error code will help you determine the cause of the issue. Shell JavaScript Python. Why use the API? Scroll down for code samples, example requests and responses. Select a language for code samples from the tabs above or the mobile navigation menu. Getting Started Before you start using the API, please take a moment to familiarise yourself with the following sections.
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For instance, a typical task is "making a foreign exchange transaction" with the following steps: This process consists of a sequence of requests to the API, which include: Request an Access Token to interact with the API. All Resources are restricted to authenticated users so you will first need to get this token. This token will authorise you to call the other Resources. Customers Lets you provide your customers' data. Contacts Allows you to create, update and delete contact details for Contacts. Recipients Enables you to manage your Recipient Account details.
A Recipient is a person or institution who is the ultimate beneficiary of your payment. Rates Get up-to-the-minute foreign exchange FX market rates. For example, an exchange rate of 1. Quotes Request fixed price quotations for a specified value of one currency. Conversions Enables you to trade one currency for another. Balances Lets you view Wallet balances.
Payments Initiate Payments and Review their details. A payment is a transfer of money from your account to a Recipient. To pay a Recipient in a particular currency, you must hold funds in that currency in your wallet. Otherwise, you should use Conversions to exchange one currency for another before making a payment. Statements Lets you view your account statements. References Provides Reference Data which are sets of permissible values to be used by when making certain requests.
For example, a list of the currencies you can buy and sell, or a list of supported transaction purposes. Webhooks Callbacks which you can use to get updates on your Requests. Authentication Authentication is the activity of proving your identity to the service. Please specify the resources you require access to, the purpose of the access and the planned frequency of the requests you intend to make.
Treat these with care as they are like your username and password for the API. They protect your data against requests from malicious users. See Get an Access Token for a full description of the parameters in the request body and header. The token should be prefixed with the word "Authorization" and the scheme "Bearer".
Permissions and Scopes Permissions restrict which areas of your account your API key will be able to access. Refer to Authentication for details on obtaining this token. The token should be prefixed with the word "Authorization" and the scheme "Bearer", as seen in this example. Everything worked as expected. Specialised to each Request Created Created. We will return a after a successful POST where a resource was created.
Specialised to each Request No Content Indicates that the server has successfully fulfilled the request and that there is no additional content to send in the response payload body. None Bad Request Malformed request.
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You will receive this error if the request query parameters are not found or the request body does not validate with the schema. The error code will help you determine the cause of the issue. See Error Codes [ error-codes]. You have not included a valid Access token, it has expired, or you entered incorrect credentials. Resource was not found. This can be caused by a number of validation issues. Such as trying to enter a duplicate record, or a country code which is not supported. Date and Timestamp To avoid confusion, dates and timestamps are in yyyy-mm-dd format in accordance with the ISO standard.
Authenticate Request an Access Token to Authenticate. The response body will contain the token you need to make requests to the other resources. This should be external. Customers The Customer resource allows you to create, update and delete all your customers' data. These are the details of your Company. Recipients This resource allows you to manage your Recipient Account details. This can be used to find a Recipient's details quickly using the search functionality. Including this optional query parameter causes the set of results to be paginated by this number of pages.
Adding this optional query parameter causes the set of results to be split into pages of this size. Default is A Recipient or Recipients were found and their data is returned in the response body. Name Type Description recipients [object] Array for the Recipients. This field is omitted for the last page. This field is omitted for the first page.
The Recipient was found and their data is returned in the response body.
Name Type Description code string Code should be ''. Rates Get current foreign exchange rates. You can provide a series of currency pairs e. Successfully requested details of a Conversion. Time string Timestamp of the currency rate. Quote string Price of the currencies pair.
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Quotes Get fixed price quotations. The default is SELL. See amount. A quotation was created and returned in the response body.