Open Banking Analysis & API Interfacing

The assignment you provided focuses on exploring open banking and its regulatory implications. It consists of two main parts: API Access and Data Reporting: You will access the public API of a large Australian bank (CommBank), retrieve information, and handle data. The task involves using Postman (or a similar API platform) to send API requests and retrieve responses. You are required to: Request summary information on current CommBank products and save the response as a JSON file. Retrieve detailed information about a specific product (Standard Term Deposit), saving the response as a JSON file and downloading the terms and conditions as a PDF. Retrieve detailed information on another product by its ProductId, noting its pricing details and saving an image related to the benchmark interest rate. This part is hands-on and focuses on interacting with APIs, but the actual coding or writing isn't required for submission—just the file uploads. Open Banking Discussion Questions: This part requires critical analysis. You are asked to: Analyze how APIs can contribute to financial inclusion, discussing the benefits and limitations of banking solutions for underserved populations. Critically assess how open banking is reshaping the traditional banking landscape, focusing on the roles of banks, fintech companies, and regulators. This includes discussing innovation, customer experience, cybersecurity threats, data privacy, and how these challenges can be mitigated. Formatting and Submission: The assignment should be 5 pages maximum (excluding appendices). The discussion requires proper referencing in APA or Harvard format. Appendices include your JSON files, PDF, image, and (if applicable) a generative AI transcript.