Something of interest

HSBC languishes at the bottom of the Open Banking – UK – Open Data category of Fintech APIs this month, as it so often does.

fintech api november 1

The API has a 100% pass rate and is blisteringly fast. So why does it find itself in the Amber Zone?  It does have the highest percentage of outliers at 2.91%. The CASC score is all about consistency. And the HSBC API might be fast, but it is not consistently fast.

If we look at the average latency in November for a couple of example endpoints we will see the issue.

fintech api november 2

For the HSBC Get FCA Service Metrics BCA V1.0 endpoint (above), we the average response is very quick because of the caching at the gateway but there are a lot of outliers and variation in the response time.

fintech api november 3

We see this also for the HSBC Get Unsecured SME Loans V2.2 endpoint. Most calls are fast, but there are a lot of slower ones. That’s because the cache refreshes periodically and the output has to be pulled from the backend and that is much slower process.

fintech api november 4

The heatmap for this endpoint is mostly green, but there are some island of yellow, orange and red when the returned payload was not available in the cache. In an API with a higher CASC score, we would see more green. Being slower, but more consistent, will mean a less flaky API and, generally, a better overall experience for the end-user.

Fintech API Ratings: Overall Performance

November 2020

 

Category

Organization

CASC score

 

Cryptocurrency Exchanges

 

Coinpaprika

9.31

Fintech

Stripe

9.27

Open Banking: PSD2

 

ABN AMRO Bank (Sandbox)

9.60

Open Banking UK: Sandbox

 

Royal Bank of Scotland (Sandbox)

9.66

Open Banking UK: Production

 

Danske Bank

9.37

Open Banking UK: Open Data

 

Bank of Ireland

9.64

Royal Bank of Scotland (Sandbox) takes the overall title this month with a CASC score of 9.66.

A CASC score of over 9.00 is very good and one of 9.50 or more exceptional. Three of the six categories are headed by organizations with a CASC score of 9.50 or more this week.

Sustaining a CASC score of >9.25 over a period of several weeks is a good showing and congratulations to those organizations that achieved it.

All categories are headed by a Fintech API with CASC score of 9.27 or more, which is a very acceptable level of performance.

Fintech API Ratings: Latency

November 2020

Category

Organization

Median Latency

 

Cryptocurrency Exchanges

 

Coinbase

132 ms

Fintech

Stripe

304 ms

Open Banking: PSD2

 

Railsbank

108 ms

Open Banking UK: Sandbox

 

Starling Bank (Sandbox)

141 ms

Open Banking UK: Production

 

Tide (Auth)

151 ms

Open Banking UK: Open Data

 

HSBC

85 ms

HSBC in the Open Banking – UK – Open Data category takes the overall title again with a median latency of 85 ms, down from 88 ms in October.

An important caveat: medians can be misleading! A Fintech API might have a fast median latency but produce many slow outliers. These won’t affect the median, but they mean that users can experience many calls that were unacceptably slow.

So just being fast isn’t everything. You have to be reliable too if you want to have good APIs and get a high CASC score!

Fintech API Ratings: Worst Overall Quality

November 2020

Category

Organization

CASC score

 

Cryptocurrency Exchanges

 

Oasis Dex

5.36

Fintech

Yodlee

7.71

Open Banking: PSD2

 

DNB PSD2 (Sandbox)

7.82

Open Banking UK: Sandbox

 

ForgeRock (Sandbox Auth)

3.76

Open Banking UK: Production

 

Creation Cards (Auth)

2.82

Open Banking UK: Open Data

 

HSBC

7.52

Creation Cards (Auth) in the Open Banking – UK – Production category takes the overall wooden spoon for November with a CASC score of 2.82.

See you again in a month as we look at the State of the financial APIs in December and back at 2020. Also look out for our weekly reports on financial APIs and our weekly and monthly reports on non-financial ones.

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