Royal Bank of Canada (RBC), a global financial institution and one of Canada's largest banks, has announced the launch of the RBC Developer portal which provides a set of banking APIs. Among the APIs available at the RBC Developer portal are the Amortization Schedule API, Branch Locator API, Product Value API, Minimum Down Payment API, and Safety Deposit Box Inventory API. These APIs can be used by eligible businesses and developers to add select RBC banking and services information to applications.
The Amortization Schedule API provides a detailed breakdown of the number of payments for a mortgage amount and amortization period as well as interest and payment details. The Branch locator API returns a list of RBC branches with details such as the address and hours of operation. The branch locator search criteria can be based on postal code or keyword search term. The Product Value API provides a business-oriented interface for accessing credit card rates and fees. The Minimum Down Payment API provides the minimum down payment required for the specified purchase price of a house. The Safety Deposit Box Inventory API confirms the presence of safety deposit boxes at the branch specified.
"Across other industries we've seen the transformational effect of APIs," said Sumit Oberai, Senior Vice-President, Digital Technology, RBC, in a prepared statement. "By providing external developers, industry innovators and clients with access to select RBC APIs, we have the opportunity to increase connectivity, create new tools and experiences for clients, and enable open and innovative collaboration to improve the future of banking."
RBC is initially offering five API products via its developer portal, and the organization plans on adding new API packages to the portal in the future. For more information about RBC APIs, visit https://developer.rbc.com/.