Digital communication between businesses and banks is now usually carried out via file transfer. Various methods are used for this. For example, files containing payment transaction data in formats such as pain, DTAZV or camt/MT940 are exchanged via the EBICS protocol or the SWIFT network. This is comparable to sending letters and only allows for a delayed response. Communication via an API, however, is more akin to a ‘conversation’ between a company and a bank and can be used for a wide range of application scenarios.

In the online event ‘API – the future of banking communication’, the Newly established VDT API Working Group on banking APIs as an additional option for digital communication between customers and banks. Practical examples will be used to highlight the numerous potential applications, as well as the challenges and opportunities associated with their implementation. Participants will also have the opportunity to identify the areas of application that are important to them for the introduction of APIs.