Number of Open Banking requests doubles in 2 months

There were 49.1 million application programming interface (API) requests made in April, more than double the number recorded in February, the Open Banking Implementation Entity (OBIE) revealed.

Of that figure, Experian reported that its Open Data Platform underpinned more than 20 million API requests, accounting for 40 per cent of the total.

Experian makes multiple API requests for each person to ensure their data is up-to-date when they initially consent to share their information, and for ongoing requests.

Some applications for Open Banking are for one-off access to the data, such as understanding the affordability of a mortgage, while personal finance management applications require ongoing access to the data and make many more API requests.

The OBIE is expecting to report on further growth in May, when Experian expects figures will highlight it handled around 25 per cent more API requests month-on-month.

Commenting, Experian managing director of data services Lisa Fretwell said: “We’re making significant investments in open data technology, so people can use their information access improved services which are tailored to their needs.”

OBIE trustee Imran Gulamhuseinwala added: “Helping people and businesses to understand the value of their data and realise the benefits is instrumental in really driving Open Banking to become more commonplace, ultimately delivering better and quicker outcomes for how people can move, manage and make more of their money.”

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