Use Cases: Discover your possibilities with Open Banking

Our use cases show you how to use banking API, data intelligence, identity verification and payment solutions to implement online applications. We are happy to answer questions you have about these examples.

Multibanking for banking and finance apps

More and more banks and third-party providers are offering their customers multibanking applications and apps for personal finance management. These apps have a variety of aggregation, filtering and analysis functions. Customers with accounts or deposits at multiple banks can have an up-to-date overview of their financial situation anytime and anyplace.

Finance platform: Finances and insurance at a glance

Digital finance platforms or finance apps give bank and insurance customers a complete overview of their finances and insurance status. With the customer’s permission, account transactions can be analyzed and potential for optimization identified. Providers such as banks and insurance companies can tailor such financial software to provide customers with individualized advice and support in key life events.

Automated credit applications: Credit check via bank account data

Thanks to PSD2-compliant interfaces, more and more banks and credit institutions are offering their customers a digital credit check. This allows customers to obtain a loan quickly and conveniently online, provided they meet all the requirements. All they have to do is agree to a one-off check of their bank account status and transactions, a so-called “digital account check” or DAC.

Identity verification and KYC check via bank account data

Customers and business partners can verify their identity securely, quickly and conveniently with GiroIdent via their online banking. The account holder logs into his bank account, and we match their name, date of birth, address, and other relevant data for the AMLA check. This protects against identity fraud.

Payment reconciliation and receivables management in accounting system

You can integrate business accounts into accounting software or ERP systems via our banking API. You can use automated payment matching to make accounting processes more efficient, or optimize downstream processes such as receivables management.

Customer-oriented receivables management

Companies and equally their customers with outstanding receivables benefit from our receivables management tool finAPI DebitFlex. Using a one-off account check, finAPI DebitFlex analyzes the customer’s account data and determines individual payment proposals for the smooth settlement of the debt: immediate payment, payment deferral or payment by installments.

Online payments: Credit transfers and direct debits

Bank transfers and direct debit are must-have payment options for online stores. And accounts departments cannot work without these payment options either. Collective bank transfers and collective direct debit are also needed more and more often. No problem, because all these payment options are possible with our payment API.

Smart liquidity check before approving a contract

With finAPI GiroCheck, consumers without sufficient proof of creditworthiness can demonstrate their current liquidity via a one-off bank account check. That way they still have a chance of making an online purchase or signing a contract. With the help of this smart, customer-friendly and secure liquidity check, merchants can generate additional sales and win new customers.

AI-supported consulting assistance for insurance industry

Our contract recognition and analysis of changes and events in bank transactions can help insurance companies to provide better advice to customers. Insurances use account analysis to find out about existing and new insurance contracts or possible insurance-relevant changes in customers’ account transactions, and then provide your customers with individual, tailor-made offers.