The Proof of Concept has proven the applicability and adaptability of the standard to Open Banking APIs. This report summarizes the results and outlines a preliminary path forward.
The REST paradigm assumes a resource-based data model with a prescribed set of access methods to manage the data attributes of identified resources. The IFX object model and message design principles are directly compatible with this paradigm. The natural alignment of the IFX meta-model, combined with the deep domain expertise in banking captured in the standard are a significant advantage for banks looking to create viable, reliable APIs with incredible efficiency and speed.