Open API
TechnologyOpen API / Public API
Definition
An Open API or Public API is a free-to-use, publicly available application programming interface that provides developers with programmatic access to a proprietary software application. In Open Banking, Open APIs allow third parties to access bank data with proper authorization.
Related Terms
Frequently Asked Questions
What is Open API / Public API?
An Open API or Public API is a free-to-use, publicly available application programming interface that provides developers with programmatic access to a proprietary software application. In Open Banking, Open APIs allow third parties to access bank data with proper authorization.
What does Open API stand for in Open Banking?
Open API stands for Open API / Public API. It is a fundamental concept in Open Banking and PSD2 regulations. An Open API or Public API is a free-to-use, publicly available application programming interface that provides developers with programmatic access to a proprietary software application. In Open Banking, Open APIs allow third parties to access bank data with proper authorization.
How is Open API used in Open Banking?
Open API / Public API is a technical standard or specification used in Open Banking implementations. It helps ensure secure, standardized communication between banks, third-party providers, and applications.
More Technology Terms
API
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API Data
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Read/Write API
Read/Write APIs enable third party providers, with the end customer's consent, to request account in...
OAuth 2.0
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OpenID Connect
OpenID Connect is an identity layer built on top of OAuth 2.0. It allows clients to verify the ident...
CIBA
Client Initiated Backchannel AuthenticationClient Initiated Backchannel Authentication (CIBA) is an authentication flow that enables a client a...
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