Make your company’s payments reliable and transparent with OP’s new Corporate Banking APIs

Just like our previous Corporate Banking APIs, the two new APIs are built using well-known technologies such as JSON, REST and OAuth 2.0, which will make integrating them to your own systems smooth and trouble-free. For more technical details, please see the following API documentation:

• OP Corporate International Payment Tracking API documentation
• OP Corporate Account Verification API documentation

At this point, the APIs are in the experimental phase, meaning that we are developing them and welcome any feedback from you. We are expecting to launch the products in the sandbox as well as in production in spring 2023. Now it is your chance to have a say on what the final APIs will look like! Send us an email to corp-payment-APIs@op.fi‍ and let us know what you need from these APIs.

Track your international payments in your company’s own application

How to know where your international payments are every step of the way – even when the recipient reports they have not received theirs?

With OP Corporate International Payment Tracking API, you are in control of your international payments. Automate the tracking of payments and integrate the solution with your company’s existing systems. The API allows you to see each step of the payment from debiting to crediting to the beneficiary in real time. If your payment fails, the API alerts you immediately. This way, you always know the status of your payments. If there is a problem with a payment, you can act right away and avoid your business processes slowing down because of it.

The International Payment Tracking API supports SWIFT gpi payments that are sent via OP. You can make the payment in any of OP's channels (for example, the Web Services channel or any of OP’s digital services, such as op.fi) and then track its progress in your company’s own application. A gpi payment is a cross-border payment under SWIFT global payments innovation service rules. It is transferred faster, and can be tracked in more detail than a regular SWIFT payment. The majority of cross-border payments in OP are gpi payments.

Frictionless payments with correct payee details

Errors in payee details are frustrating and cause extra work and hassle for the payer. OP Corporate Account Verification API helps your company avoid those situations by checking the payee information is correct before you even initiate a payment. The solution also informs you if the account is open to receive the payment. These checks can easily be integrated as part of your company’s processes such as payments or supplier management.

When the account details are correct, payments are executed faster and more reliably. An improved payment completion rate saves you time and money.

For some banks, you can also verify that the recipient’s name corresponds to the account holder, which helps you to be alert when you are adding or updating your business partners’ bank details. It also enhances the security of payments.

Remember to check out our previous Corporate Banking APIs, too:

• OP Corporate Account Data API enables you to view an up-to-date account balance in your own app and retrieve account transactions whenever you need them.
• OP Corporate Payment API allows you to initiate payments from an app using your company’s account – no need to wait for the next batch run.
• OP Corporate Refund API allows you to refund a SEPA credit transaction.
• OP Corporate Transaction Filter API lets you query your corporate account transactions using selected search filters.
• OP Corporate Transaction Info API provides you with details of account transactions for reconciliation purposes.

Read more about our Corporate Banking APIs on op.fi.‍

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