Natwest strengthens API suite to enhance real-time payments

Natwest is launching three new APIs to support corporate and commercial customer demands pertaining to real-time payments. 

The three separate APIs will help alleviate the increasing demand for automated transactions on Natwest’s treasury teams. The bank’s host-to-host solution, Bankline Direct, will help facilitate the three new APIs, as well as pre-existing ones that are already stored. 

The three APIs all hold unique capabilities to one another, as they will not only support customer demands, but also automate reconciliation needs. These are listed as: 

  • Make a Payment – Customers can directly initiate faster payments and perform international transfers, as well as being able to receive real-time payment status notifications.
  • Account Reconciliation – Enabling treasury teams to directly access information seamlessly and optimise data through pull and scheduled reports. 
  • Autopay Direct Bacs API – A new product which aims to support larger corporation customers by allowing Bacs payments to be submitted seamlessly. 

The launch of these APIs adds to the Indirect Access Payments suite of Natwest APIs, which are widely used by agency banks and payment providers to process secure domestic payments. 

“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,” commented Jonathan Hall, Head of Digital at Natwest. 

“As we continue to innovate, our API products will allow our customers to improve their interaction with us and receive essential data more quickly.”

The aforementioned Bankline Direct uses its APIs to directly connect Natwest to different systems, which allows for secure transmissions and improves the payment process of data in real-time. 

Natwest confirmed that the three new APIs are industry-standard security and ISO20022-formatted, allowing for customers to make secure payments.