Permanent access to account data of a bank account
Scientific analysis and categorization of account transactions
Consolidation of financial data from different sources
Access to Wallets (PayPal) & Credit Card accounts
The FinTecSystems XS2A.API interface provides permanent and asynchronous access to the account data of a bank account with the aim of obtaining or retrieving an electronic account statement for use, for example, in a PFM tool. The focus here is on the bank customer, since several bank details can be grouped together under one bank customer. As part of the synchronization, repeated access to the bank data takes place via a login in online banking. in summary, this product supports multiple queries of account transactions without requiring the account holder to log in again.
FinTecSystems provides white-label account information and payment services with the same look and feel of its clients’ brands. The self-developed online banking-based API enables companies to aggregate and analyse financial data and make decisions in real time. For example, its products accelerate loan commitments, minimise counterparty risk, and categorise real-time sales data to make them more meaningful. FinTecSystems is also licensed by BaFin.
Under PSD2, the issue of retrieval of account information and payment triggers is increasing in importance as it provides a standard which promotes the receipt of bank-independent financial data.
The FinTecSystems’ solution is highly customer-centric. Only after online log-in and authentication is financial data collected, prepared and provided within meaningful categories. Its digital process helps clients avoid disruption and accelerates applications. In addition, it improves their processes in line with PSD2 and meets BaFin requirements without them having to own the application process.
- Permanent access to account data of a bank account
- Scientific analysis and categorization of account transactions
- Access to Wallets (PayPal) & Credit Card accounts
Various functions within the FinTecSystems API are available to the provider for creation, administration and use, which are described in more detail below. In this context, a distinction is made between the bank customer, an access token, the bank details and the bank account.
- Bank customer: Is a person under whom one or more bank details are grouped
- Access token: The access token is a special API key which can only query the data of a bank customer. This can be used, for example, directly on mobile devices.
- Bank details: This is the login to a bank. Several bank details can be assigned to each bank customer.
- Bank accounts: Within one set of bank details, there can be several bank accounts, each of them contains information on the account and the transactions.
The typical procedure is as follows:
- Create bank customer via API
- Create access token via API
- Create bank details via API
- Interaction of the bank customer via the wizard (login to online banking and authorization for revolving access, which can then take place without login again)
Returns a list of all XS2A.API bank users. Furthermore, access tokens of an XS2A.API bank user and special access tokens are sent.
Returns a list of all bank details of an XS2A.API bank user and a special bank account.
XS2A.API bank details events
Retrieve the list of all bank accounts of an XS2A.API bank user and the list of all bank accounts for a specific bank. Furthermore, special bank accounts for an XS2A.API bank user are supplied. Finally, the account balance and turnovers of a special bank account are also queried.
About the provider
FinTecSystems is one of the leading banking API and smart data providers in Germany, Austria and Switzerland. In addition to an Open Banking Platform, which provides account information and payment initiation services, FinTecSystems has an analytics platform that focuses on analysing and categorising financial data for banks, fintech and payment service providers. Its solutions are used to aggregate account data in real time, make credit decisions, minimise credit risks and initiate online transfers.
TÜV-certified, FinTecSystems works for N26, Santander, DKB and Deutsche Handelsbank, among others. Since 1 March 2019, FinTecSystems has been a regulated institution under the Payment Services Supervision Act (ZAG) and has been granted permission by BaFin as a payment initiation and account information service.