German Banking Industry Committee has created the first standardised account API in Europe

The German Banking Industry Committee associations (BVR, DSGV, VÖB and the Association of German Banks) launched the giroAPI scheme on 1 January 2025. With this framework, German banks are turning to future-proof API technology as a first step towards their goal to drive the development of innovative payment and account services. There are already plans in place to expand into additional areas such as request to pay and open finance.

The giroAPI is based on the European standardisation initiative Berlin Group (openFinance API framework). It allows third-party service providers with a supervisory license, should their client agree, to simplify payments and make it easier to access specific account information. The German Banking Industry Committee is thus the first in Europe to create an initiative focusing on API services for payments and account information. The API is based on the technical interface established by the second European Payment Services Directive (PSD2).

The giroAPI scheme aims to offer new technical services that enable providers and clients to more efficiently create their own innovative payment solutions. For example, third-party service providers will be able to optimise and expand their existing services in cooperation with the German Banking Industry Committee. By working together, the GBIC and third-party service providers will contribute to improving Europe’s ability to compete on the global stage.

The giroAPI scheme highlights the German Banking Industry Committee’s commitment to modernising and improving efficiency in financial systems via technological innovation. Interested service providers can download the technical implementation documents and information on available access dates. You can find more information on the German Banking Industry Committee’s website at: giroapi.de.