Canada’s Open Banking Journey: Interview with Simon Redfern, Founder of The Open Bank Project & CEO of TESOBE

NCFA Canada
  1. Provide very clear (no optionality) authentication / authorisation / consent flows.
  2. Provide clear guidance on the data quality returned via the endpoints.
  3. Provide a sandbox where 3rd Parties can test the above and read / comment on documentation.
  • Another thing would be to consider multiple financial institutions, banks or brands within one API host. This is not catered to in either the UK or Berlin group standards, which forces implementers to use different hosts or path prefixes which muddies the URL space / naming conventions. Single FI per host might result from strict certificate requirements but you might ask the question: “Should the API standard cater to different bank or financial institution brands being served from one host?” — Aggregators might do this anyway, so why not build it into the standard.
  • Lastly : “How should the API standard deal with optional JSON fields?” Important: “How should we monitor Quality of Service and Availability?”

Links you may be interested in:

NCFA Canada

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Fluent in Fintech-Bank Partnerships | Advisor | Ambassador| Audiobookaholic https://mahisall.me

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Mahi Sall

Mahi Sall

Fluent in Fintech-Bank Partnerships | Advisor | Ambassador| Audiobookaholic https://mahisall.me