Something of interest

Fintech is a pretty competitive category. Everyone has a CASC score over 8.50, which isn’t a bad effort at all. 6 out of the 10 APIs have a CASC score of 9.00 or more, which is also pretty good.

fintech api quiickbooks 1

Interestingly enough, Intuit QuickBooks props up the table with both its sandbox and production API, which have CASC scores only 0.01 apart. 8.51 is a perfectly respectable CASC score as far as it goes, although you can always do better.

Both APIs have 100% pass rates and only slight variation in the number of outliers. Comparing Process Time for the two APIs is educative.

fintech api quiickbooks 2

The best and worst cloud and regions are the same for both the sandbox and production environment. This is exactly what you want if your sandbox is to accurately reflect the performance of the live system.

fintech api quiickbooks 3

Interestingly, the live environment is actually faster than the sandbox for process time, although typically only by a few tens of milliseconds. Actively monitoring from your test and production systems lets you know that your sandbox is behaving just like your live environment, not just in terms of what is being returned by the endpoints, but in how the endpoints behave in terms of pass rate, latency and outliers. That way, using the sandbox really tells you how things are going to go with the production system, which is the whole point of the test environment.

Fintech API Ratings: Overall Performance

Week Ending 14 December 2020

Category

Organization

CASC score

 

Cryptocurrency Exchanges

 

HitBTC

9.47

Fintech

Stripe

9.38

Open Banking: PSD2

 

Railsbank

9.57

Open Banking UK: Sandbox

 

Royal Bank of Scotland (Sandbox)

9.69

Open Banking UK: Production

 

Danske Bank

9.48

Open Banking UK: Open Data

 

Bank of Ireland

9.69

Royal Bank of Scotland (Sandbox) in Open Banking – UK – Production category and Bank of Ireland in the Open Banking – UK – Open Data category share the overall title this week with a CASC score of 9.69.

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 an API with CASC score of 9.38 or more, which is a very acceptable level of performance.

Fintech API Ratings: Latency

Week Ending 14 December 2020

Category

Organization

Median Latency

 

Cryptocurrency Exchanges

 

Kraken

222 ms

Fintech

Stripe

307 ms

Open Banking: PSD2

 

Railsbank

107 ms

Open Banking UK: Sandbox

 

Starling Bank (Sandbox)

134 ms

Open Banking UK: Production

 

Tide (Auth)

155 ms

Open Banking UK: Open Data

 

HSBC

80 ms

 

HSBC in Open Banking – UK – Open Data again takes the overall title again with a median latency of 80 ms, down from 81 ms last week.

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

Week Ending 14 December 2020

Category

Organization

CASC score

 

Cryptocurrency Exchanges

 

Coinlore

6.95

Fintech

Nothing under 8.00!

 

Open Banking: PSD2

 

Nothing under 8.00!

 

Open Banking UK: Sandbox

 

Barclays (Sandbox Auth)

6.99

Open Banking UK: Production

 

Creation Cards (Auth)

6.25

Open Banking UK: Open Data

 

HSBC

7.25

We have now split out Fintech APIs into separate weekly and monthly reports. This allows us to give you a more focused view on the different classes of APIs you care about.

In particular, we have been seeing increased adoption of and interest in APIs in the financial sector as uptake of Open Banking accelerates and APImetrics has over the last few weeks been able to add many UK Open Banking APIs (we now monitor all nine of the CMA9 banks) to the ones we monitor and the performance of which can be seen at our API.expert site.

See you again in a week as we plunge further into December. And don’t forget to look out for our November financial API report and the weekly and monthly non-financial ones.

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