What is an API?

An API is a set of set of rules that software programs can follow to communicate with each other. APIs make the functions of a service available in other applications. They create a comprehensive digital experience by connecting to the products and services that power it.

Is API a new technology?

APIs have been in place for many years and are commonly used in consumer applications. More recently, commercial APIs have emerged, including in the treasury management and commercial payments space.

What is open banking?

Open banking involves financial institutions sharing account and transaction data with corporate clients and third parties, such as financial technology (FinTech) firms. This data sharing is done via APIs.

An open banking directive was introduced in the European Union in 2018. There is no specific open banking mandate in the U.S., but leading U.S. banks, like PNC, have started to embrace an open banking architecture.

Are APIs products or delivery channels?

APIs are a new channel for connecting with and providing value to organizations. APIs provide the bridges that make it possible for any digital experience to connect to products and services—creating a user-friendly experience for a customer. APIs can incorporate PNC’s commercial banking solutions and products into companies’ own applications.

When did PNC start developing APIs?

PNC has been developing and introducing APIs since 2018. API capabilities support many of our established—as well as emerging—commercial payments and treasury management solutions.

What APIs does PNC offer?

PNC offers a variety of APIs to support treasury management functions, including commercial payments, receivables, accounts payable solutions, verification services, and transaction and balance reporting.

Do APIs make life more complicated?

No, in fact APIs can make life easier by allowing companies to initiate transactions and other activities from within their own systems rather than having to move between different systems or interfaces. In addition, because transactions can now take place on the company’s systems, users do not have to learn how to operate new and unfamiliar systems.

Do PNC APIs adhere to a recognized industry standard?

All PNC APIs use Open Authorization (OAuth 2.0) for token-based authentication and authentication used on the Internet. In addition, PNC participates in a series of industry groups that seek to create common API standards.

What are the next steps if I am interested in using APIs in my company?

If you are interested in APIs, please contact your PNC Relationship Manager (RM) or Treasury Management Officer (TMO) to discuss how APIs can work for you and how you can start incorporating PNC APIs into your treasury management and commercial payments applications.

Your RM or TMO can also provide you with access to our enterprise-level PNC Developer Portal (https://developer.pnc.com), which has detailed information on APIs, including business-level product sheets, developer guides and access to call codes as well as sandbox and testing environments. 

What support does PNC offer for deploying APIs?

PNC provides implementation support and works with you to enable your API use cases. We then provide ongoing support through our Treasury Management Client Care organization.