Banking Data

Core concept

Sikoia ingests banking data from two sources, Open Banking connections and uploaded Bank Statements, and normalises both into a single, standardised model. Through a unified API, this gives you consistent access to account details, balances, and transaction data regardless of where the data originated.

This normalisation relies on two identifiers: the Bank Connection ID and the Account Connection ID. While related, they have distinct roles, as explained below.

Bank Connection Identifier

A bank_connection_id serves as a unique identifier for a connection to a bank data source, whether it's an open banking connection or an uploaded document containing bank statements.

Account Connection Identifier

An account_connection_id serves as a unique identifier for a specific bank account or bank statement within a document.

Why might a single Open Banking connection yield multiple Account Connection IDs?

A single open banking connection (with a unique bank_connection_id) can be used to connect one or more bank accounts. Each connected account is given its own account_connection_id.

For example, if a person has a checking account, a savings account, and a joint account with the same financial institution and all of these accounts are connected through a single open banking connection, then they will share the same bank_connection_id but possess distinct account_connection_id values.

Why might a single bank statement file yield multiple Account Connection IDs?

A single bank statement file (with a unique bank_connection_id) may include one or more accounts and/or bank statements. Each individual account or statement within the file will be give its own account_connection_id.

For example, a single bank statement document may encompass statements for both a checking account and a savings account. If provided in the same file, they share the same bank_connection_id but possess distinct account_connection_id values.

Similarly, a single bank statement document may include statements for different months. If provided in the same file, they share the same bank_connection_id but possess distinct account_connection_id values.