Read/Write API
TechnologyDefinition
Read/Write APIs enable third party providers, with the end customer's consent, to request account information, such as the transaction history, of personal and business current accounts and/or initiate payments from those accounts. These APIs form the core of Open Banking functionality.
Related Terms
API
Application Programming InterfaceAn Application Programming Interface is a set of routines, protocols, and tools for building softwar...
AIS
Account Information ServicesAccount Information Services allow third-party providers to access account data (such as balances an...
PIS
Payment Initiation ServicesPayment Initiation Services are services that allow a third-party provider to initiate payments from...
Frequently Asked Questions
What is Read/Write API?
Read/Write APIs enable third party providers, with the end customer's consent, to request account information, such as the transaction history, of personal and business current accounts and/or initiate payments from those accounts. These APIs form the core of Open Banking functionality.
What does Read/Write API stand for in Open Banking?
Read/Write API is a key term in the Open Banking ecosystem. Read/Write APIs enable third party providers, with the end customer's consent, to request account information, such as the transaction history, of personal and business current accounts and/or initiate payments from those accounts. These APIs form the core of Open Banking functionality.
How is Read/Write API used in Open Banking?
Read/Write 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
Application Programming InterfaceAn Application Programming Interface is a set of routines, protocols, and tools for building softwar...
API Data
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Open API
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OAuth 2.0
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OpenID Connect
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CIBA
Client Initiated Backchannel AuthenticationClient Initiated Backchannel Authentication (CIBA) is an authentication flow that enables a client a...
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