We are pleased to announce the release of a new capability that gives our partners greater architectural flexibility and control when leveraging the Basiq API.
We have done this because the “one size fits all” approach common in our industry inhibits innovation and CDR will require increased logical separation of consumer data.
We challenge the simplistic view that fintechs use open banking data for the same app and the same set of users. Our partners are spinning up new apps, white-labelling and even publishing their own APIs.
As more financial institutions meet their CDR data holder deadlines, consumers may consent to share data for different reasons and their data will need to be treated accordingly.
In anticipation of both these factors, we have re-engineered the data hierarchy so that each partner account now has a new top level - the Application. Each application context contains its own user financial data, API keys and access control.
Using the Basiq developer dashboard, you can now create a different application for any reason you would want logical separation, for example different use cases (e.g.: lending, digital banking), platform staging (e.g.: dev, pre-live, prod), or customers.
Each application context contains its own set of API keys, authentication method, data refresh schedule and members.