Neobank Up’s vision for next generation of banking apps

Neobank Up’s vision for next generation of banking apps

Neobank Up is working on the next generation of its public API which it believes will give customers more creative ways to automate and control their money.

The two-year-old bank launched the beta version of its public API in July, giving customers programmatic access to their balances and transaction data using a token.

Around 2000 customers have generated their own API token allowing them to plug their own banking data into applications they build.

So far, Up customers have built apps to serve their specific needs such as alerting them when their balance gets below a certain level or displaying transactions directly into an Excel spreadsheet.

Other more novel solutions have emerged including an integration with Spotify which turns a Google Home into a jukebox and attaching a Raspberry Pi to a sprinkler system as a gimmick to solicit donations for a school.

Anson Parker, head of product at Up, explained to iTnews the initial beta release is limited in scope and meant for personal use only; building custom applications using the Up API requires customers to have some level of technical ability, whether they be programmers or hobbyists.

“We really just wanted to learn about how it is going to work and see what people are doing with it,” Parker said.

“An API allows you to essentially open your platform up to the internet and allow people to build integrations with your platform and expose ideas and concepts that you might not have otherwise seen.”

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Source: Neobank Up’s vision for next generation of banking apps – Digital & Disruption – Software – Finance – iTnews