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Flinks Unveils Enriched Transaction Data
By Flinks on August 31st, 2017
Reading Time: 2min
Our financial API now returns the richest transaction data available on the Canadian market in order to facilitate automation.
We’re happy to offer a cleaner, richer data format to our clients. This is an important step forward in the Canadian financial technology sector as our API now becomes a lot more innovation-friendly.
For our clients, ‘cleaner’ data means that our API returns data in a format that is coherent across all of thefinancial institutions we cover. This allows to manipulate the data much more easily, which is essential to building powerful automation tools without wasting energy on data cleansing.
The reality is that for any given data point, Flinks API is facing as many formats as there are data sources. For instance, think of TD, Scotia and CIBC all returning transaction dates in three different formats. Or else BMO, returning a negative balance in parentheses instead of using a minus sign. Or even Tangerine grouping transactions into a single column, instead of two separate debit and credit columns as per most banks.
We could go on a on, but the point is this: finance companies innovating on the Canadian market should not have to worry about dealing with these peculiarities. And from now on they don’t — using our financial API, they can instead place their entire focus on providing better financial products for Canadian consumers.
The following are examples of data points which were subject to our unification efforts: – Transaction Date – Account transit – Balance – Credit transactions (deposits) – Debit transactions (withdrawals) – Phone number – Province – Postal code
At Flinks, we are dedicated to providing innovative companies with the financial data they need to achieve more for their customers. Being the leading banking API on the Canadian market both in terms of coverage and reliability, we’re now happy to also offer the highest quality of financial data in the country.