01
The account holder authorizes once
The connection is made through the Connect widget: the account holder picks the institution and gives consent. Credentials never pass through the application.
Fiotec · Bank accounts
4,000 bank accounts monitored through Brazil's Open Finance
Fiotec reads 4,000 bank accounts through Brazil's Open Finance, with thousands of transactions a month. Balances and transactions from every institution arrive in the same format, with the account holder's consent, and feed financial control with no statements downloaded by hand.
How the data moves
- 01Consent
- 02Accounts
- 03Transactions
- 04Financial control
- accounts connected through Brazil's Open Finance
- 4,000
- of transactions read every month
- Thousands
The challenge
Why it's hard.Bank accounts.
A research support foundation manages funds for many projects at once, and each project often has its own bank account. Tracking balances and activity means logging into several banks every day and reporting on each account separately. Every institution delivers its statement in a different format, and pulling it all together is the work that comes before any analysis.
Many institutions, one format
- Bank A · Project 01Checking accountBalance and transactionsUp to date
- Bank B · Project 02Checking accountBalance and transactionsUp to date
- Bank A · Project 03InvestmentBalance and transactionsUp to date
- Bank C · Project 04Checking accountConsentDue for renewal
Sample data.
How it works
How Openi solved it.In 3 steps.
- 02
Balances and transactions in one format
Once the account is connected, the API lists accounts and transactions from any institution in the same format, with pagination and date filters.
- 03
Webhooks flag what changed
New transactions and changes in connection status arrive by webhook, including when a consent needs to be renewed.
For the team
What's in plain sight.No digging.
- Every account's balance in the same format
- New transactions on every refresh
- Accounts with consent due for renewal
Demo
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