iOS 17.4 has introduced a new API called FinanceKit, which allows developers to access a person’s transaction and balance details from Apple Card, Savings, and Apple Cash. This API is currently only available in the US.
FinanceKit is designed to enable users of financial management apps to monitor their Apple financial accounts in real-time, eliminating the need for manual data entry and providing a comprehensive view of their financial position.
Three financial management apps, YNAB, Monarch, and Copilot, have already added support for FinanceKit, catering to the 12 million Apple Card users in the US.
It’s unclear whether the API integrates Open Banking data, which is widely used in Europe but not as prevalent in the US. However, it is believed to be a step towards expanding Apple Card services globally.
While the enterprise case for the API is uncertain, it could be valuable for businesses using Apple Card services to provide temporary virtual cards to staff, offering oversight and financial control.
To connect to the service, users of financial management apps need to update their device to iOS 17.4, update the app, and follow the prompts to add Apple Wallet Connection.
In addition to FinanceKit, iOS 17.4 also opens up Apple’s platforms for third-party app stores in Europe and allows third-party developers to use the iPhone’s built-in NFC feature for contactless payments.
2024-03-07 19:00:03
Article from www.computerworld.com