On Tuesday, the Royal Bank of Canada (RBC) announced it has opened its very own API developer platform. According to the bank, the RBC Developers platform will allow eligible external software developers, industry “innovators,” and clients to access select RBC APIs. While sharing more details about the platform, Sumit Oberai, Senior Vice President of Digital Technology at RBC, stated:
“Across other industries we’ve seen the transformational effects of APIs. 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 experience for clients, and enable open and innovative collaboration to improve the future of banking.”
RBC noted that APIs allow applications to talk to other applications. They allow 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, which are credit card catalog API, minimum down payment API, branch locator API, amortization schedule API, safety deposit box inventory API. Each API package delivers the data elements, orchestration and business logic required to deliver the end to end business process.
RBC added that additional API packages will be added in the future.