API.expert Weekly Banking API Analysis: Perfect Railsbank

This Week’s Banking API Highlights

  • Tide in the Open Banking API – UK – Production category takes the overall title again this week with a CASC score of 9.85, up from 9.84 last week.
  • HSBC in the Open Banking API – UK – Open Data category takes the overall title again with a median latency of 95 ms, up from 93 ms last week.
  • Barclays (Sandbox Auth) in the Open Banking API – UK – Sandbox category takes the overall bottom spot again this week with a CASC score of 5.24, up from 4.51 last week.
  • We take a good, hard look at what Railsbank is doing so right.

Something of interest

Railsbank in the Open Banking API – PSD2 category doesn’t quite claim the overall title this week, but with a CASC score of 9.82, it is not very far behind.

Tide is in the Open Banking API – UK – Production category. And Open Banking API – PSD2 is a competitive category, with no APIs outside the Green Zone.

Railsbank is close to the perfect banking API. It is fast, has hardly any outliers, and is always available. It’s what you want your banking API to look like.

banking api railsbank 1

Railsbank is a UK-based operation, and their performance is very much biased towards Europe, which is by far the fastest region. Even North America is ~4-5x slower than Europe.

This is one reason why you need to actively monitor your banking API – so that you understand how it is performing from the end user perspective.

Everything might seem to be fine for your users who are hosted in Europe, but it might that, in a globalized industry, that for, some reason, someone is invoking you from AWS US East (Northern Virginia). They are going to find a significantly worse experience than IBM Cloud in Europe.

banking api railsbank 2

The rate determining steps for Railsbank are TCP Connection Time and Handshake Time, so optimizing for regions outside Europe would only require focusing on these components.

banking api railsbank 3

TCP Connection Time is 91 ms slower from Azure North America than Google Europe and the Handshake Time is 180 ms slower. That’s a whole 271 ms of extra latency that you might want to get rid of if you can.

banking api railsbank 4

DNS Lookup Time, Upload Time, Process Time and Download Time are all very short from all regions, so if Railsbank wants to improve its performance in regions outside Europe, it has a very firm basis and a first-class banking API to do so.

Banking API Analysis: Overall Performance

Week Ending 19 April 2021

Category

Organization

CASC score

Cryptocurrency Exchanges

Gemini

9.17

Fintech

Square (Sandbox)

9.48

Open Banking: PSD2

Railsbank

9.82

Open Banking UK: API Sandbox

Lloyds Banking (Sandbox Auth)

9.70

Open Banking UK: Production

Tide

9.85

Open Banking UK: Open Data

Bank of Ireland

9.66

Tide in the Open Banking API – UK – Production category takes the overall title again this week with a CASC score of 9.85, up from 9.84 last week.

Banking API Analysis: Latency

Week Ending 19 April 2021

Category

Organization

Median Latency

Cryptocurrency Exchanges

FTX

247 ms

Fintech

Stripe

327 ms

Open Banking: PSD2

Railsbank

100 ms

Open Banking UK: API Sandbox

Royal Bank of Scotland (Sandbox)

151 ms

Open Banking UK: Production

Creation Cards

149 ms

Open Banking UK: Open Data

HSBC

95 ms

HSBC in the Open Banking API – UK – Open Data category takes the overall title again with a median latency of 95 ms, up from 93 ms last week.

Banking API Analysis: Worst Overall Quality

Week Ending 19 April 2021

Category

Organization

CASC score

Cryptocurrency Exchanges

Coinlore

6.82

Fintech

TransferWise (Sandbox)

7.69

Open Banking: PSD2

Nobody under 8.00!

Open Banking UK: API Sandbox

Barclays (Sandbox)

5.24

Open Banking UK: Production

Yorkshire Building Society

6.93

Open Banking UK: Open Data

HSBC

6.87
Barclays (Sandbox Auth) in the Open Banking API – UK – Sandbox category takes the overall bottom spot again this week with a CASC score of 5.24, up from 4.51 last week.

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