Software Engineering Daily Enhancing OAuth Security and Interoperability Using FAPI with Joseph Heenan
Nov 14, 2024
Joseph Heenan, CTO at Authlete and leader at the OpenID Foundation, dives into the development of the Financial-grade API (FAPI), a security upgrade for OAuth aimed at the financial sector. He explores its journey from financial applications to broader high-security uses. Alongside Gregor Vand, they discuss the rise of open banking in the UK, the need for security in financial APIs, and the impact of FAPI on user experiences across industries. They also highlight how Authlete simplifies FAPI implementation, even extending its benefits to healthcare data sharing.
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FAPI's Evolving Meaning
- FAPI evolved from "Financial API" to "Financial-grade API" and finally to an acronym without specific meaning to remove industry constraints.
- This reflects its broader applicability beyond finance to health, energy, and insurance sectors.
Open Banking Revolutionizes Data
- Open banking replaces unreliable legacy FTP with secure API-based data sharing, improving reliability and ease of access.
- It empowers consumers with control over their financial data, allowing seamless integration with third-party services.
FAPI Strengthens OAuth 2
- FAPI builds on OAuth 2 by narrowing options to enhance security and interoperability with mandated cryptographic client authentication.
- It improves on OAuth 2's weaknesses by requiring private key cryptography to authenticate clients.
