Open Banking

Genuine opportunities for retail, e-commerce and the service sector

You can buy anything on the internet, and almost everyone now shops online. According to the German E-Commerce and Mail Order Association (BEVH), online retail in Germany generated sales of 83.3 billion euros in 2020, almost 15 percent up from the previous year. Companies with efficient, user-friendly and automated shops are benefiting particularly.

Our finAPI Open Banking Update shows you which processes are particularly suited to being digitalized. And we give you information about how open banking technology can optimize your processes, regardless of which sector you operate in.

Find out which new possibilities and opportunities open banking could mean for your company.

Use Cases

Open Banking is the starting point for a world of possibilities

Thanks to open banking, companies from a wide range of industries can benefit from countless application possibilities along the entire digital customer journey. These possibilities go far beyond banking. Look at use cases and the corresponding finAPI solutions in our “finAPI Open Banking Update” and here on our website.

Online payments

Direct Account2Account (A2A) such as SEPA transfers and SEPA direct debits are now standard for B2B payments and for online stores. With finAPI you can integrate these payment types and multiple direct debits, collective transfers and standing orders into your systems easily and quickly.

Real-time bank transfer

A real-time transfer or instant payment is a lightning-fast transfer within the SEPA area. The funds are credited to the recipient’s account within a maximum of 10 seconds. The perfect solution when things need to happen right now.

Check address, age & identity

With finAPI GiroIdent you can verify the name, age, address, or identity of your customers in accordance with European money laundering laws. The complete process takes place online and without media disruption. This type of identity verification is quick, convenient, and secure for you and your customers.

Proof of creditworthiness

Have you ever declined a sale or not concluded a contract because you do not have sufficient information to say yes? With finAPI GiroCheck customers can prove their current creditworthiness via a one-time account check for example in the checkout of online stores. Companies can expand their pool of potential customers without taking on additional risks.

Receivables management

finAPI DebitFlex means customer-oriented receivables management, less stress and fewer court cases. After a one-time account check – with the account holder’s consent – finAPI determines the payment option most likely to result in full repayment: Immediate payment, deferred payment or an installment plan.


Accounting processes can be optimized by integrating all your business accounts into your accounting software via a bank interface. You can use this finAPI’s interface for automatic reconciliation as well as for executing and receiving payments, receivables management or liquidity planning.

Further suggestions and use cases from other industries

Many industries are already benefiting from banking interfaces and new open banking solutions. Companies are offering their customers innovative value-added services as well as faster and more convenient banking and payment options. Leading the way are e-shops, banks, financial service providers, insurance companies, and information and communications technology companies. But this is just the beginning – the development of further innovative digital applications for companies and customers is still to come. 

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