What is API BANKING?

Application Programming Interface (API) Banking: API Banking makes use of APIs (XML/JSON codes) for communication between bank and client servers, making data transfer between these two systems seamless, ensuring seamless and secured integration between the customer’s and bank’s systems. This ability of API Banking helps the customer to perform banking transactions in an easy manner without having to toggle between his Enterprise Resource Planning (ERP) platform and bank.

 

Explore the world of APIs available with ICICI Bank Developer Portal – For signup, please click here

Benefits of API Banking

  • Direct integration and Instant solution – Real time solution for processing banking transaction
  • Secured medium of integration – Exchange data or files in encrypted environment
  • Highly efficient mode of banking – Reduce turn-around time of banking transaction as initiation as well as reverse status available on customer system on real time. Easy reconciliation
  • Saves time - No need to visit bank or uploading transaction files manually.

How it works:

Step 1: Client can choose the API service and do virtual testing on ICICI Bank developers portal

Step 2: Client to sign the NDA/ Application form for the access to UAT & production environment

Step 3: Handshake of ICICI Bank’s and client’s technical team for testing support

Step 4: Development, Testing and Live

Available API Banking Solutions

Live API’s currently available for integration with our customers can be divided into the following 3 broad segments:

 

PaymentCollectionNon-Financial
  • Bulk & single payment API for multiple modes (NEFT, RTGS, IMPS, UPI & FT)
  • Single Payment (IMPS API & InstaPay API for FT)
    • With or without OTP, with or without beneficiary validation, with or without authorisation
  • Refunds for collections
  • VPA based payment through UPI API
  • Aadhaar based payment
  • Real time validation of collection through Cash/Cheque/DD/NEFT/RTG S/IMPS
  • Refund back to customer in case of non-validation of remitter
  • Real time validation on cash collection through branches and Cash Deposit Machine (CDM) and status update
  • UPI API for collection
  • Reverse MIS API
  • Bank Statement fetch API
  • Account Balance API
  • Payment enquiry API
    • Account opening API
    • Beneficiary addition API