15.8.2021
OP Corporate Banking APIs are finally available to companies who want to use them on another company’s behalf. To make managing mandates simple, we are introducing a new API: OP Corporate Service Provider API.
In corporate banking, it’s common to outsource banking processes to partners such as accounting firms and centralized service centers. Until now, our Corporate Banking APIs have not supported this kind of operating model, and companies that use outsourcing have been limited to our Web Services channel.
To allow service providers and their customers to benefit from our APIs, we are announcing a new feature on OP API Admin, our self-service portal for onboarding Corporate Banking APIs. Now, any company can create an agreement which allows a service provider to use selected APIs and accounts on their behalf!
OP Corporate Service Provider API helps you manage your mandates
A service provider mandate allows you to use OP Corporate Banking APIs on behalf of another company. As a service provider, you can use the customer company’s OAuth credentials. However, you will still use your own certificates (MTLS).
To help service providers automate their processes for mandate handling, we have published new OP Corporate Service Provider API. It enables you to
- retrieve all valid service provider mandates granted to your company
- retrieve mandate details for an individual customer company
- retrieve or renew a customer company’s OAuth credentials used in API traffic.
How to use OP’s APIs as a service provider
To get started, register your company as a service provider on OP API Admin. Once your registration is complete, your customer companies will be able to authorize you to use OP Corporate Banking APIs on their behalf.
Next, your customer needs to grant a mandate to you. To achieve this, the customer must create an API agreement on OP API Admin, where they will also select the APIs and accounts included in the mandate.
Once the API agreement is signed, use the new Corporate Service Provider API to retrieve your customer company’s OAuth credentials. With the credentials, you can start using Corporate Banking APIs on their behalf, so you’re good to go!
If you want to test the new feature in sandbox, please contact us at corp-payment-APIs@op.fi.
Real-time banking with OP Corporate Banking APIs
OP Corporate Banking APIs form a steadily growing set of APIs that are designed to streamline company’s financial administration. Forget about batch runs - let your payments and transaction data flow in real time with OP’s modern REST APIs. With them, you can fully automate your payment transfers and transaction queries.
In addition to the Service Provider API, we currently offer four Corporate Banking APIs:
- OP Corporate Account Data API: view up-to-date account balances in your own app and retrieve account transactions whenever you need them.
- OP Corporate Payment API: initiate payments from an app using your company’s account – no need to wait for the next batch run.
- OP Corporate Transaction Filter API: query your corporate account transactions using selected search filters.
- OP Corporate Refund API: refund payments based on the details of the original received payment without having to find out the original payer’s account number.
All four APIs are available in production. Read more about the benefits and use cases of all our Corporate Banking APIs on op.fi.
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