Plat Overview:

Who is this solution is intended for?

Plat is an app to allow customers to transfer their bank account and relationships to a new bank (in this example, ABC bank)

What is this solution is attempting to solve?

Demonstrate relationship portability using open banking and the FDX API

How is this solution addresses the problem?

Plat leverages FDX APIs to analyze a customer's accounts and transactions.

Similar solutions and what makes this different

The closest solutions are account aggregation and authentication using data access platforms, with Finicity offering

See documentation and context within the /docs folder for a PPTX/PDF

• PDF Summary
• PowerPoint Summary

See Video walkthroughs:

• App Walkthrough
• ABC Bank & Plat Commercial
• UI/UX
• Plat FAQ

Account Transfer Incentives

The incentives implemented for this demonstration are as follows:

• When a customer transfers $20,000 (with exception of LOCs) to ABC Bank, the customer is offered an incentive of 25 basis points in savings (example: loans) or additional interest (example: deposit accounts).
• Customers who transfers LOCs to ABC Bank are offered an incentive of 25 basis points.
• Ideally Plat would use customer information that is not currently part of the FDX API, such as an account open date, to uncover other potential incentives for the customer.

Other Notes:

How to run

npm run install-all

npm run build

npm run server-start

Note: If you are using Windows Subsystem for Linux, the redirect back to 127.0.0.1:3001/ does not work, you should use the development mode below to test the system

Development

In development, the dev client runs on 3001 and the dev server on 3002. The oauth redirect still goes to 3001 on the client and then proxies everything to 3002.

npm start

In another terminal, run npm run server-dev.

Both the client and server are typescript apps. The client code is in src and uses the React framework. The server code is in server. The server code is transpiled into the dist folder.

Authentication

You need to create two .env files, one in the root directory and the other in server. The root .env should contain the following:

REACT_APP_LOGIN_URL="https://tdm.financialdataexchange.org/fdxriauthclient/app/connect"
REACT_APP_CLIENT_ID="[yourclientid]"

The .env in the server directory should contain the following:

REDIRECT_URL="http://127.0.0.1:3001"
CLIENT_ID="[yourclientid]"
CLIENT_SECRET = "[yourclientsecret]"
FDX_URL="https://financialdataexchange-prod.apigee.net/fdx-core-api-v51"
FDX_OIDC_URL="https://tdm.financialdataexchange.org/fdxriauthserver/oauth2/token"