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Version | Date | Author | Comments |
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| 2.0.0 | 24 Jul 2017 | Open Banking Open Data API Team | This is the baseline version. |
| 2.1.0 | 21 Aug 2017 | Open Banking Open Data API Team | This release incorporates all known issues with 2.0.0 up to 18 Aug 2017. Please see the release notes for details. |
| 2.1.1 | 12 Oct 2017 | Open Banking Open Data API Team | For SME Loans, this release is identical to v2.1.0 API. Please see the 2.1.0 release notes for details. The MIG is from v2.2 (as recommended by PMG) |
Overview
This specification includes all relevant artefacts for the Open Data Business SME Unsecured Loans (SME) API Specification.
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This endpoint can contain multiple brands owned by a particular banking group. Each brand can own multiple SME Unsecured Loan products.
Loan
This section covers SME Unsecured Loan attributes that will change only under rare circumstances (see CoreProduct section for additional attributes that will be updated regularly).
The following information can be provided:-
- Product Name i.e. the name marketed to the consumers.
- Identification is the unique id created by the financial institution to internally define the product
- Segment - allows specification of the type of product e.g. basic, regular, premium
MarketingState
Within our design, we have a concept of a "marketing state" for the product. This concept is required because for any "On Sale" SME Unsecured Loan product:-
- The loan may provide a different offering to the SME loan holder the longer that they hold the product - covered by StateTenureLength & StateTenurePeriod in the example below.
- The financial institution can change any of the Loan attributes that are marketed over time - covered by FirstMarketedDate and LastMarketedDate in the example below.
We'll illustrate this with the following example.
CMA9Bank has an SME Unsecured Loan product that was first advertised and marketed on 1/1/2017 and has the following features currently:-
- If the accountholder takes the product, they are offered a promotional interest rate of 3% for 1st 9 months, then 5% for next 12 months and then it reverts back to the standard variable rate (e.g. 14.9%).
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This sections includes information that can change relatively often. Information to be provided includes:-
- Product URL allows a link to the financial institution's website where more detail about the product can be found
- URL to the product's terms & conditions
- Sales Access Channels cover all of the channels by which a customer can be sold a BCA
- Servicing Access Channels cover all of the channels by which a customer can receive service for their BCA. Note: This covers servicing of all aspects of the BCA. Some aspects may not be serviceable via certain channels.
- MonthlyCharge covers any monthly servicing charge that a financial institution may make to a BCA accountholder
Loan Interest
In this section, information about the interest rates that are payable by the SME to the Lender are listed. This section contains headline Representative APR info to be used on comparison websites.
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The following UML Class Diagram provides the hierarchical structure of the message in a graphical form, which is easier to digest.
- Data Dictionary - provides detailed descriptions for each field in the message specification along with the associated code lists, constraints and other technical details such as cardinality, any pattern constraints, min, max length etc.
- Swagger - the API specification written using the Swagger API specification format (some known issues which will be fixed in v2.1.0).
Compliance Report
- Compliance Report - highlights changes made to fields & datatypes from v1.x.
Message Implementation Guide
- Message Implementation Guide - provides worked examples of how to implement a particular message specification.
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