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Version: v3

Introduction

Welcome to the LinX API Documentation. This guide is intended for developers looking to integrate LinX’s open banking, data enrichment and financial insight services into their applications.

What is LinX?​

LinX provides a set of APIs focused on aggregating, enhancing and analyzing bank transaction data. With LinX, developers can convert raw financial data into structured insights. The APIs primarily focus on assessing consumer and business financial health through various metrics.

Open Banking​

Open Banking refers to the standardized framework under which banks provide third-party providers with secure access to bank account and transaction data, with the user’s explicit consent. This framework was introduced as part of the PSD2 (Payment Services Directive 2) regulation in the European Union.

LinX operates within the Open Banking ecosystem to process transaction data provided by banks. By connecting to the data made available by the banks through PSD2-compliant APIs, LinX enhances raw transaction data with enriched insights while adhering to stringent security and privacy standards. The Open Banking infrastructure ensures that user data is transferred securely and only with proper authorization.

  • Consent Services: Consent services are essential to the Open Banking framework, ensuring that transaction data is accessed securely and only with the user’s explicit approval. LinX uses consent as a key mechanism to manage user authorization, maintain compliance with regulatory requirements, and enable its enrichment services.

  • How LinX Uses Consent: LinX tracks user consents through a unique identifier called the ConsentCollectionID. This ID links all user-approved consents and serves as the key to accessing account information and transaction data. The ConsentCollectionID generated during the consent process is used to link user-approved access to transaction data, enabling enrichment services such as transaction categorization, counterparty identification, and financial analysis.

Integration with Enrichment Services​

The ConsentCollectionID can be passed to LinX APIs to enhance transaction data with additional context, such as categorization, counterparty details, and financial insights. By centralizing consent management, LinX simplifies the process for developers while empowering users with secure, controlled access to their financial data.

This approach guarantees secure and transparent handling of financial data, providing users with confidence and control over their information.

Data Enrichment​

Once data is retrieved, LinX structures bank transactions to a standard format and enhances bank transaction data by adding context, making it easier to process and analyze. Key features include:

  • Categories/Classification: Automatically organize and classify transactions. We distinguish separate category schemes for consumers and businesses. One of a total of 140 different categories (B2C of B2B) is added to a transaction.
  • Counterpart Information: Provide additional details, such as addresses, emails, and business activities related to transaction counterparties.
  • Additional properties: adds specific information based on the content of the transaction.

Indicator Services​

Once the data is enriched, LinX offers various services to analyze financial health through:

  • Consumer Indicators: Evaluate individual or household financial stability based on income and expenses.
  • Business Indicators: Assess the creditworthiness and financial status of businesses.

Why use LinX?​

LinX API services provide developers with tools for transforming raw bank transaction data into actionable insights. Whether your use case involves personal finance management, business analytics, or financial risk assessment, LinX delivers efficient and reliable services for integrating financial insights into your applications.

This documentation will guide you in effectively implementing LinX API services.