Please contact us at : 03 7145511 or soc@poalim.co.il
An API is a set of instructions designed to connect two applications and allow them to exchange information. It defines the kinds of calls or requests that can be made, how to make them, the data formats that should be used, the conventions to follow, etc.
Bank Hapoalim APIs offer efficient connections and the transfer of information in a secure environment.
available Monday – Thursday 07:30 – 17:30, Sunday 07:30-16:00
Open Banking is a protected way of sharing customer's financial information with third-party providers.
With customer's consent, banks and financial institutions can share account and transaction details with third parties through application programming interfaces (API).
Open APIs enable exchange of information between the bank and third-party software provider (TPPs). This helps the financial organizations offer tailored products and services to acquire and retain customers.
The Bank of Israel (BOI) adopted Directive 368 and the NextGenPSD2 XS2A Framework standard adopted in Europe by the Berlin Group to use in the Israeli financial industry.
At this stage, only banks and credit card companies can access the customer account information, but it will soon be opened to third parties.
The standard and the directive set out rules for the three-way relationship between the financial entity, the customer, and the third party:
(1) To identify the third-party inquiry to the bank or the credit card company and obtain information or initiate an action.
(2) To identify the customer, obtain their consent to provide the information or initiate the transactions, and manage these permissions.
(3) It provides a uniform language for requesting information from the bank or credit card company and sending it to the third party.
(4) It sets out the standard for information security and data transfer.
(5) It defines the services and data that can be obtained as part of open banking in Israel.
Third parties will provide customized information services to their customers as long as they have given their explicit consent to access this information.
Thus, if a customer wishes to share the information stored in their bank account with a third party, the bank must allow them to do so.
According to the BOI instruction, the customer must select a specific type of data to share and the consent period.
The bank will share only the type of information for which consent was given.
There are two types of API:
APIs included in the Open Banking Regulation are only available to companies supervised by the regulator (BOI).
These are the APIs that deal with PSD2.
Non-regulated APIs are available to all companies and do not require regulatory oversight approval to use them. Using these APIs requires a registration process through the Developer Portal.
At this stage, Bank Hapoalim offers three types of service:
Information services concerning current accounts and SMBs.
Bitcom service. To use this service, contact us through the developer portal and request to use this service.
Bit-payout service. To use this service, contact us through the developer portal and request to use this service.
