Root partners with Standard Bank South Africa to offer programmable bank account
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Re: Root partners with Standard Bank South Africa to offer programmable bank account
#2This is very exciting. In the EU the fintech revolution is also banging the gates, as in 2018 all banks must support a standard protocol, if I recall correctly.
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#3This is very exciting. In the EU the fintech revolution is also banging the gates, as in 2018 all banks must support a standard protocol, if I recall correctly.
It's called Psd2, strugling to find a good article about it but TLDR; Banks has to have an open api for payments and to check account statuses.
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#4This is very exciting. In the EU the fintech revolution is also banging the gates, as in 2018 all banks must support a standard protocol, if I recall correctly.
It's called Psd2, strugling to find a good article about it but TLDR; Banks has to have an open api for payments and to check account statuses.
" Banks has to have an open api" are you sure about that ? I thought there was some criteria to be able to use these APIs
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#5Founder here - let me know if you have any questions! More details at https://root.co.za/
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#6Earlier quoted context omitted.
It's called Psd2, strugling to find a good article about it but TLDR; Banks has to have an open api for payments and to check account statuses.
" Banks has to have an open api" are you sure about that ? I thought there was some criteria to be able to use these APIs
I think the difference is that you can use the APIs of any bank as long as you fulfill some standard criteria; each bank can't set their own, or pick and choose who can "partner" with them to use the APIs. At least, that's my understanding.
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#7Earlier quoted context omitted.
It's called Psd2, strugling to find a good article about it but TLDR; Banks has to have an open api for payments and to check account statuses.
" Banks has to have an open api" are you sure about that ? I thought there was some criteria to be able to use these APIs
[deleted]
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#8This is very exciting. In the EU the fintech revolution is also banging the gates, as in 2018 all banks must support a standard protocol, if I recall correctly.
It's called Psd2, strugling to find a good article about it but TLDR; Banks has to have an open api for payments and to check account statuses.
It's generally a "read only" view, i.e. you can get account info etc. Root is a "write" API. So you can actually create and modify transactions.
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#9Founder here - let me know if you have any questions! More details at https://root.co.za/
Fellow South African here. How do I get in on the closed beta?
Re: Root partners with Standard Bank South Africa to offer programmable bank account
#10Founder here - let me know if you have any questions! More details at https://root.co.za/
Fellow saffer here. I signed up for your beta yesterday and I am quite excited, I think this has the potential to become an absolutely amazing product.
As a developer, do you plan on having a market/app store where I can sell my "apps" to other root users?