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Open Banking

LHV Open Banking and PSD2 API interface

An easy to use, modern technology that allows companies to develop new and user-friendly applications that are integrated with banking services.

  • A fast and convenient way for end users to access their bank accounts
  • Simplicity – open standards in wide use
  • A look at the future – solutions that are sustainable and are riding on tomorrow’s trends already today
  • Secure – users have total control and peace of mind

Open Banking

Open banking is a term that refers to new directions in banking, e-commerce and the business world as a whole.

Today’s technical solutions make it possible for companies with verified backgrounds to access, in cooperation with clients, the clients’ bank accounts more easily. This allows the companies to develop new applications that are more convenient and efficient than the ones currently in use. It also opens the door to completely new opportunities and business models.

API

LHV’s API interface allows transactions to be executed with the client’s consent – payments can be made, account information queried and other bank services used – directly through third-party apps without actually logging into the internet bank or visiting a bank office. Examples include online stores or points of sale or solutions that are still being developed.

LHV API is a RESTful API, which uses HTTP protocol and JSON data format. Our API was developed based on the Berlin Group standard, which means it can be adopted easily and rapidly.

PSD2

The objective of the EU’s Payment Services Directive (PSD2) is to open up and better organize the market for electronic means of payment, and create new options for clients – all while ensuring the security of all parties.

The directive imposes uniform rules on banks and third parties and sets out technical requirements that API interfaces must meet as well as requirements for their use.

What types of services does API enable?

  • Queries of account information – makes it possible to query a list of accounts, balances and statements.

  • Initiating payments – allows payments to be made from the account, using all of the options provided by LHV identically to internet banking.

  • Queries of available funds – a service meant for card payment service providers that allows them to query whether sufficient funds exist for a transaction.

How to start using the interface?

The LHV API is ready for LIVE pilot usage from 14.06.2019! To gain access already before September and join the live testing circle please contact us at openbanking@lhv.ee

To learn more about the API services and technical details, we are offering a Sandbox test environment that is available now and does not require a user account or contract. It’s also free of charge.

Sandbox contains technical specification in Swagger and also online testing functionality.

Newsfeed

  • 2019.08.28
    Consent services for Confirmation of Funds are now LIVE.

  • 2019.06.26
    In Sandbox now consent and payment approval in the UI can be done using ID-Card, Mobile-ID and Smart-ID (no PIN asked) or PIN Calculator (any PIN accepted).

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Contact

In case of questions, write to us at
openbanking@lhv.ee