What is Open Banking?

In May 2018, the Australian Competition and Consumer Commission (ACCC) announced the introduction of the Consumer Data Right (CDR), which will give consumers greater access to and control over the data that banks and other organisations have on consumers’ use of services and products.

Open Banking aims to give customers the benefit of being able to compare financial data between providers, ensuring you get the best products for your needs. 

BOQ Group published information about our deposit, transaction and credit card products via a new Product API (Application Programming interface) in August 2020. Information about residential mortgages, personal loans and car loans will be added to this Product API in early 2021. Information on our other products will be added to this Product API in future. This information is also readily available on our website and includes details of product rates, fees and features.

In a later phase of Open Banking customers will be able to consent to share their bank account and transaction information with other accredited organisations through a secure system. The objective is to help customers to more easily find the best products for their personal needs. We will provide more information when the feature is available. 

Is Open Banking secure?

BOQ is committed to keeping your data safe, in line with the Open Banking privacy and security guidelines set out by the ACCC. Information on our Privacy Policy is available here.

You can find information on the Consumer Data Right rules, as well as proposed timings for this phased programme delivery here. 

About BOQ Product API

Our Product APIs have been developed in line with the Consumer Data Standards.

  • The request must be a HTTPS Get request to the relevant product API endpoint. The mandatory parameters defined in the specifications must be included. URLs and links to specifications are given under each API section below
  • These are public APIs and do not require authentication
  • The response will be in the format defined by the Consumer Data Standards

Product API is published here: https://secure.api.boq.com.au/cds-au/v1/banking/products

For information on a single BOQ product: https://secure.api.boq.com.au/cds-au/v1/banking/products/{productId}

Additional information

  • Currently only minor version ‘2’ of each endpoint is supported (header x-v=2). Multi-version support (for x-v=2 and x-v=3) will be available in early 2021.
  • The product API only supports ‘effective’ query parameter values of ‘CURRENT’ & ‘ALL’, and does NOT support pagination. Pagination will be supported in early 2021.

If you are experiencing any technical issues with the API, please email openbankingsupport@boq.com.au