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Financial API

Overview[1]#

Financial API (FAPI) is an Application Programing Interface (API) for Financial Institutions being developed by an OpenID Foundation Working Group and using OAuth 2.0

OpenID Foundation Financial API Working Group aims to rectify the situation by developing a REST/JSON model protected by OAuth 2.0. Specifically, the FAPI WG aims to provide JSON data schemas, security and privacy recommendations and protocols to:

Both commercial and investment banking account as well as insurance, and Payment Card accounts are to be considered.

The United Kingdom Competition and Markets Authority (CMA) is mandating that the Financial API (FAPI) be utilized.

More Information#

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