Cashplus Bank API

Cashplus Bank is a digital-only challenger bank founded in the United Kingdom in 2005. It was founded by Richard Wagner, who is still the CEO of the company. Cashplus started as a prepaid card provider but later became a full-fledged bank in 2015, after receiving a banking license from the UK’s Financial Conduct Authority (FCA). The bank is headquartered in London, with additional offices in Liverpool and Mumbai.

Since its inception, Cashplus Bank has evolved to become one of the leading challenger banks in the UK. The bank has been profitable since 2012 and has been growing at a rapid pace ever since. Cashplus offers a range of banking products, including current accounts, loans, credit cards, and savings accounts, to over 1.7 million customers.

Cashplus Bank has been focusing on expanding its digital offerings and improving its user experience. The bank has plans to roll out new products, including a business current account and a mortgage product, in the near future.

Cashplus Bank uses a range of APIs to power its services. These APIs include the Faster Payments API, which enables customers to send and receive payments instantly, the Open Banking API, which allows customers to share their financial data securely with third-party providers, and the Direct Debit API, which allows customers to set up and manage recurring payments.

As a financial institution, security is of the utmost importance for Cashplus Bank. The bank has a range of security protocols in place, including two-factor authentication, encryption, and regular security audits. However, like all banks, Cashplus Bank has had some security breaches in the past. In 2019, the bank suffered a data breach that exposed the personal information of thousands of customers. The bank quickly notified affected customers and took steps to improve its security protocols.

API performance is critical for a digital-only bank like Cashplus. The bank has a track record of providing reliable API services, with minimal downtime. However, there have been some isolated incidents of downtime in the past, which the bank has promptly addressed.

To ensure its services are always available, Cashplus Bank relies on a robust and scalable infrastructure. The bank uses a combination of on-premise and cloud-based servers, with redundancy built-in to ensure high availability. Additionally, the bank has invested in advanced monitoring and alerting tools to quickly identify and resolve any issues that may arise.