NatWest has released three new APIs to support corporate, commercial, and institutional customer demand for real time payments and automated reconciliation, including BACs payments.
The launch adds to the Indirect Access Payments suite of APIs which are widely used by Natwest Agency Banks and Indirect Payment Service Providers to process secure bank-grade and non-bank grade domestic payments, worth billions in value.
For commercial and corporate treasury teams, the new APIs are housed in NatWest's host-to-host package Bankline Direct, which integrates with corporate Treasury Management Systems (TMS) or Enterprise Resource Systems (ERP) and is used for payments and reconciliation activities.
Supporting ISO20022 formats, the first two APIs enable users to initiate Chaps, Faster Payments and international transfer and receive near real time payment status notifications, as well as perform automated account reconciliation activities. The third API in the service suite is a new product - Autopay Direct Bacs API - aimed at large corporate customers to allow for Bacs payments to be submitted unattended and seamlessly.
Jonathan Hall, head of digital at NatWest comments: “Our newest APIs use the latest technologies to support our customers’ needs. The result is a seamless and secure transition to real-time payments in the digital, always-on economy. As we continue to innovate, our API products will allow our customers to improve their interaction with us and receive essential data more quickly.”