Token Endpoint Extension 📣

Basiq has extended the POST /token endpoint for requests with the scope CLIENT_ACCESS. The new organisation fields should be included in the request body as follows:

{
    "scope": "CLIENT_ACCESS", 
    "userId": "10be99c6-1944-4552-bd6f-08d893875179",
    "orgName": "Accountants XYZ Pty Ltd",
    "orgRefID": "0123456789",
    "orgRefType": "ABN",
    "orgType": "Financial Broker"
}

The supported values for the orgRefType field are ABN, AFSL, and ACN.

The supported values for the orgType field are Accountant, Financial Broker, Financial Advisor, Legal Professional, Tax Agent, and Financial Counselling Agency.

You can use the provided token to initiate the consent UI and continue connecting to your institution securely. The token includes the necessary information, such as the Trusted Advisor details and other relevant data, to ensure a smooth and compliant consent process.

By utilizing this token, you can seamlessly integrate the Trusted Advisor access model into your application, allowing qualified professionals to access consumer data for providing financial advice. You can read more about Trusted Advisor Model here.

If you have any questions or need assistance during the onboarding process or while using the Trusted Advisor model, please feel free to reach out to our dedicated support team. We are here to help and ensure a successful experience for you and your users.

Deprecation ⚠️

We appreciate your continued support and usage of our platform. We are writing to inform you about an important update regarding the deprecation of our BASIQ Connect Control UI. However, we have some exciting news to share as well.

At Basiq, we are committed to constantly evolving and improving our platform and tools. We are deprecating our BASIQ Connect Control UI, in favour of a shiny new one.

Here are the key changes and improvements you can expect:

Consent Mechanism: We have introduced a consent mechanism in the user flow. This empowers users by clearly outlining the access they are granting us and giving them control over their data.

MFA Support: With the release of version 3.0 of our API, we now offer support for Multi-Factor Authentication. To make integration easier, we have published it as an NPM package.

We have also released the new Basiq Connect Component on the auth links which are hosted on https://connect.basiq.io

What happens to the old UI control?

While you can continue to use the old BASIQ Connect Control UI until further notice, we want to inform you that it is now considered a public archive in our GitHub repository. We will no longer be adding new features, including MFA support, to the old UI control.

For detailed installation and usage instructions for the new Basiq Connect Component, please refer to the documentation available here.

If you have any questions or require assistance with the upgrade process, please do not hesitate to reach out to support.

Thank you for your understanding and support as we strive to provide you with the best Open Banking platform.

Basiq - The Open Banking Platform

Improvements 💟

Changelog for Payment Errors:

• Detailed error response is provided in case of an error, including the reason, error code, title, and error message.
• The error response allows developers and users to easily identify and understand the error.
• Users can take appropriate actions based on the error information to resolve the issue.

You can access these payment rejection errors here.

To get started with payments, please refer to our payments documentation.

June '23 ❄️

🌟 What's new?

Basiq Webhooks

We are thrilled to introduce the much-awaited feature: Webhooks! 🎉

Webhooks provide a seamless way for Basiq to notify your application about important events occurring in our system. With this integration, you can now stay informed and react in real-time to changes within our solution without the need to continually poll our APIs for updates.

Here's what you need to know about Webhooks:

Real-time notifications: Webhooks enable your application to receive instant notifications whenever specific events occur in our system. This ensures that you are always up to date with the latest information.

Customizable event selection: You have the flexibility to choose which events you want to be notified about. Whether it's a new transaction, a user account update, or any other significant action, you can tailor the notifications to fit your specific needs.

Efficient and reliable: By utilizing Webhooks, you can optimize your application's resource usage by eliminating the need for continuous polling of our APIs. Instead, you'll receive timely notifications only when relevant events occur, improving efficiency and reducing unnecessary requests.

Getting started with Webhooks is a breeze. Simply follow our comprehensive documentation, which provides step-by-step instructions and code examples to help you integrate this exciting feature seamlessly into your application.

We believe that Webhooks will empower you to build even more dynamic and responsive applications on top of Basiq's powerful platform. Stay connected, react faster, and unlock new possibilities with real-time event notifications!

As always, if you have any questions or need assistance, our support team is here to help. Reach out to us, and we'll be glad to guide you through the process.

Happy coding!

The Basiq Team

May'23 ☁️

🔨 What's Improved?

We have improved our API by extending the accounts EP with CDR attributes in our GET /accounts and GET /accounts/{id} endpoints within connectors data. The new attributes are below.

Fees:

• name
• feeType
• amount
• accrualFrequency

DepositRates:

• depositRateType
• rate
• applicationFrequency

LendingRates:

• lendingRateType
• rate
• applicationFrequency

Loan:

• startDate
• endDate
• repaymentType
• minInstalmentAmount

CreditCard:

• minPaymentAmount
• paymentDueAmount
• paymentCurrency
• paymentDueDate

These attributes provide information about fees, deposit rates, lending rates, loan details, and credit card information within the context of banking accounts and transactions.

for more updates, read more on GET /accounts and GET /accounts/ {id} endpoints.

May'23 🔨

What's New? 🌟

We have exciting news for you. We are going to launch Webhooks in a few weeks from now. 🚀

What is a Webhook?

A webhook is a reverse API, or server to server push notification. They work by sending out an HTTP request to a specified endpoint when an event is triggered. This makes webhooks ideal for integrating two applications. Webhooks are a way for Basiq to notify your application when certain events occur in our system. This allows your application to react in real-time to changes in our solution without needing to constantly poll our APIs for updates.

What is API Polling?

API polling is the process of repeatedly sending requests to the same endpoint and comparing subsequent responses you receive to determine if there is updated information.

Why use Webhooks?

Webhooks are a powerful way to integrate your application with other applications or services in real-time. Instead of manually polling for updates or changes, webhooks allow your application to automatically receive notifications or data when specific events occur.

Using webhooks can save you time and resources, improve your application's performance and enhance its functionality. With webhooks, your application can stay up-to-date with changes or events in other applications or services, and trigger actions based on the data received.

The Beta docs are coming soon. Stay tuned for more updates ⚓

If you have any questions or queries, please reach out to us by clicking on the bottom right chat option or email us at [email protected].

April '23 🐰

🔨 What's Improved?

Introduced jobIds parameter

Basiq allows your users to create multiple connections within a single flow when the Allow multiple connections feature is enabled in the Basiq dashboard. With the new jobIds parameter, you can retrieve all the jobIds from connection attempts appended to the Redirect URL.

This parameter makes it easier and more streamlined for you to track the progress of multiple connections within the same session. The Redirect URL contains all jobIds from that session, including the newest jobId like so:

http://www.your-redirect-url.com/?jobId=789&jobIds=123,456,789

Refer to the Dashboard configuration page for more information on how to enable the Allow multiple connections feature.

Updated Disclosure object

With this update, the Disclosure object (supporting party) will now be correctly stored when a consent is updated. This ensures that all necessary information related to the supporting party is accurately captured and stored.

Overall, these updates will help improve the functionality and user experience of the ConsentUI tool. Users will now have more comprehensive information at their disposal, enabling better tracking and management of consent-related tasks. Additionally, the improved consent storage will ensure that all necessary information is accurately captured and stored for future reference.

March '23 ☀️

🌟 What's Coming?

Slick new API Filters Improvements

 
We are excited to announce that we are updating all of our API filters. With this update, we will be returning more helpful error messages when invalid filters are used. Previously, our filters were failing silently, which made it difficult for developers to identify and resolve issues.

What does this mean for you?

With more accurate error messages, you will be able to quickly identify and fix any issues that may arise from using incorrect filters on our Endpoints. This improvement will undoubtedly enhance the development and usage of our API and improve the overall performance and reliability of our platform and your integration.

Stay tuned for the upcoming release of this improvement!

{
    "type": "list",
    "correlationId": "82038bb2-9fb4-9fb4-9fb4-9ca60b3a7555",
    "data": [
        {
            "type": "error",
            "code": "parameter-not-valid",
            "title": "Parameter value is not valid",
            "detail": "The provided filter parameter is in invalid format or unsupported",
            "source": {
                "parameter": "filter"
            }
        }
    ]
}

PermissionSets ⚓

We have recently announced new permission sets for Reports API. These updates provide users with greater control over data access and security, enabling administrators to grant specific permissions to groups of users.

With the new permission sets, administrators can control access to reports based on the user's role and profile. This allows for better management of data access, ensuring that users only have access to the data they need to perform their job functions.

The updated permission sets also allow for granular control over report access, giving administrators the ability to restrict access to specific reports or report folders. This is particularly useful in situations where sensitive data needs to be protected or when compliance regulations require strict data access controls.

Overall, the new permission sets for Reports with BASIQ API provide enhanced security and greater control over data access, making it easier for administrators to manage data access and ensuring that users have access to the data they need to perform their job functions.

Keen to find out more about permissionSets, you read that docs here.

Improvements 💟

The Accounts endpoint has been extended to include Credit Limit information for applicable accounts.

Users can now retrieve their credit limit for eligible accounts using the Accounts endpoint.

The eligible account types are credit-card, loan and mortgage.

The update is below from our testing personas.

{
  "type": "list",
  "data": [
    {
      "type": "account",
      "id": "s55bf3",
      "accountHolder": "GAVIN BELSON",
      "accountNo": "600000-157441965",
      "availableFunds": "420.28",
      "balance": "356.50",
      "creditLimit": "400000.00",
      "class": {
        "type": "mortgage",
        "product": "Hooli Home Loan"
      },
      "connection": "8fce3b",
      "currency": "AUD",
      "institution": "AU00000",
      "lastUpdated": "2019-09-28T13:39:33Z",
      "name": "Master Savings",
      "status": "available",
      "transactionIntervals": [
        {
          "from": "2018-07-01",
          "to": "2018-12-30"
        }
      ],
      "links": {
        "institution": "https://au-api.basiq.io/institutions/AU00000",
        "transactions": "https://au-api.basiq.io/users/ea3a81/transactions?filter=account.id.eq('s55bf3')",
        "self": "https://au-api.basiq.io/users/cd6fbd92/accounts/319ae910"
      }
    }
  ],
  "links": {
    "self": "https://au-api.basiq.io/users/cd6fbd92/accounts/319ae910"
  }
}

For further info, please check out our docs here.