March 20, 2018
RBC first Canadian bank to open an API developer portal
TORONTO--With a focus on driving innovation to deliver leading-edge solutions for its clients and support the Canadian innovation community, RBC is the first Canadian bank to launch an Application Programming Interface (API) developer portal. The RBC Developers portal will allow eligible, external software developers, industry innovators and clients to access select RBC APIs.
"Across other industries we've seen the transformational effect of APIs," said Sumit Oberai, Senior Vice-President, Digital Technology, RBC. "By providing external developers, industry innovators and clients with access to select RBC APIs, we have the opportunity to increase connectivity, create new tools and experiences for clients, and enable open and innovative collaboration to improve the future of banking."
APIs allow applications to talk to other applications. This communication layer allows third party applications secured access to select data and capabilities from RBC. Once registered and approved to use the RBC Developers™ portal, external parties will be able to browse and learn about the APIs offered and build, test and deploy their applications using these APIs.
RBC is initially offering five API packages in the portal. Each API package delivers the data elements, orchestration and business logic required to deliver the end to end business process. Additional API packages will be added in the future.
> Credit card catalog API – Provides access to credit card rates and fees through a business oriented interface. hese values are organized in terms of line of business, product family, and individual products
> Minimum down payment API – Calculates the minimum down payment required for a given purchase price of a home
Branch locator API – Accepts postal code or keyword search term and returns the address and hours of operation of the closest branch, or a list of the closest branches
> Amortization schedule API – Calculates the number of payments associated with a mortgage amount, amortization period, interest details and payment details
> Safety deposit box inventory API – Provides safety deposit box information at a specified branch
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 81,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 16 million clients in Canada, the U.S. and 34 other countries.