API Design in Fintech: Challenges and Opportunities for next gen APIs
summary
Open banking and PSD2 force banks to expose APIs but leave format choices to each provider, so expect a patchwork; common practical rules reappear: use integer for currency, idempotency keys for POSTs, and OAuth expected for consumer flows while basic auth persists server‑to‑server. Sandboxes are mandatory, admin tokens coexist with user and single‑use tokens, and aggregators like Plaid push integration standards (Plaid Exchange) while Stripe‑style docs set the developer UX bar.
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chapters (14)
- 0:00Start
- 2:10About Me
- 3:47A brief history of Fintech "APIs"
- 6:18A Bank's Philosophy
- 7:00Then... Open Banking, PSD 2
- 8:00Now, we can work with APIs...
- 11:40And there are Industry Standards
- 14:48API Consistency: Currency
- 15:34API Consistency: Endpoints and Objects
- 17:36API Consistency: Authentication: Client-Server
- 19:36API Consistency: Authorization
- 20:48Consistency: Sandboxes
- 22:01The Dream: Consistency
- 23:18Thank You!
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