Frequently asked questions about Banking API
What is a banking API?
A banking API (Application Programming Interface) is a programming interface that enables third-party software applications (such as ERP, TMS, or back-office systems) to communicate directly with a bank's systems. In practice, it allows banking operations (wire transfers, direct debits, balance enquiries, account creation) to be executed automatically, without logging into the bank's web interface or handling files manually.
Banking APIs fall into two categories: Open Banking APIs (PSD2), which are mandated by the European regulation and have a limited functional scope, and Premium APIs, which are far more comprehensive and enable end-to-end automation of your transactions. In France, Memo Bank is currently the only French bank licensed by the ECB to offer a Premium API of this level, recognised by the Trophées DAF and The Digital Banker.
What banking operations can be automated with the Memo Bank API?
Memo Bank's API enables end-to-end automation of banking operations, both incoming and outgoing.
In practice, you can:
• Issue single or bulk SWIFT or SEPA (instant or standard) transfers,
• Execute SEPA direct debits to collect payments from your clients,
• Create and manage bidirectional virtual IBANs to segment your transactions by client, project, or department,
• Monitor your balances and transactions in real time,
• Add attachments against specific transactions,
• Receive webhook notifications for every event occuring in your banking workspace.
All of these actions can be carried out in full Straight Thought Processing (STP) , directly from your business softwares. The API replaces handlings file, data manipulation, EBICS submissions, and time-consuming manual entries.
How long does it take to integrate the Memo Bank banking API?
Integrating the Memo Bank API is designed to be fast and seamless. The first API call is operational within just a few hours, and full integration has never exceeded 15 days for any client. This speed is the result of several factors: clear and regularly updated technical documentation, a sandbox for simulating scenarios with dummy data without affecting production, and dedicated technical support from our IT team.
The Sandbox environment is available to clients with a Payments subscription and enables all API endpoints to be tested, including the simulation of incoming transactions.
What is the difference between Memo Bank Premium API and Open Banking API (PSD2)?
The difference is fundamental. Open Banking APIs, are resulting from the PSD2 regulation, offer reduced use cases: they primarily enable account consultation and the initiation of simple payments. Most traditional French banks have restricted themselves to developing these regulatory APIs without going further.
Memo Bank's Premium API goes far beyond this: it enables end-to-end automation of a large range of tasks (transfers, direct debits, virtual IBANs, account balances, real-time webhooks, attachments imports) and it is tailored to the business' transactional profile. Its integration is managed by the business's own IT team or service providers. In summary, the PSD2 API fulfils a regulatory obligation, while the Premium API addresses the operational needs of finance teams.
Discover available integrations (EBICS, PSD2, Premium API)
Is the Memo Bank banking API secure?
Yes, security is at the core of the Memo Bank API's architecture. It is a REST API authenticated via JWT (JSON Web Token), a recognised standard for secure data exchange. The API delivers a level of security equivalent to EBICS or SWIFT: two well-established connectivity solutions of the banking sector. Our banking infrastructure have been successfully audited by third parties. In addition, the API provides granular permission management: each connected application can be set up with specific access rights (read-only or read/write), restricted access to certain accounts, and IP address restrictions.
Furthermore, Memo Bank is a credit institution licensed by the European Central Bank and regulated by the Banque de France, ensuring a strict regulatory framework for data protection and banking compliance.
What types of businesses is the Memo Bank banking API designed for?
Memo Bank's banking API is primarily aimed at high-transaction-volume businesses that need to automate their transactions at scale, such as wire transfers or direct debits. This includes fintechs (such as Defacto, specialising in short-term financing), insurers and brokers managing large volumes of refunds, property management companies (such as Plusse, which uses virtual IBANs to segment its collections by apartment), and service platforms processing hundreds of thousands of transactions per year or collecting payments on behalf of third parties.
More broadly, any company whose finance team wishes to remove repetitive manual tasks, gain real-time visibility of cash flows, and connect its bank to internal tools (ERP, TMS, back-office) is an ideal candidate.
What is a virtual IBAN and how can it be used via the Memo Bank API?
A virtual IBAN is an alternative bank identifier, linked to your main current account but distinct from your primary IBAN. Via the Memo Bank API, you can create, modify, and delete virtual IBANs independently and instantly.
Their value for accounting reconciliation is significant: by assigning a unique virtual IBAN to each client, supplier, project, or department, you automatically identify the source and destination of every transaction, even if the transfer reference is empty or incorrect.
Memo Bank virtual IBANs are bidirectional: they work for both incoming transfers and outgoing transfers and direct debits.
It is also possible to assign a VAT rate to a virtual IBAN so that it is automatically applied across all related transactions.
How do webhooks work in the Memo Bank API?
Webhooks are a real-time notification mechanism built into the Memo Bank API. In practice, whenever a significant event occurs in your Memo Bank workspace (account creation or update, incoming banking transaction, executed transfer, processed direct debit) an HTTPS request is automatically sent to your server at the URL defined during setup. This allows your internal tools to respond in real time without having to continuously poll the API.
