The IFX Forum Architecture Committee has done a fair amount of work analyzing how to adapt the IFX Business Message Specification to growing trends related to Open Banking APIs and the currently trending technology preferences – JSON and REST.

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.

API POC Narrative Report

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.