How it works
- In order to receive event notifications, first the Third Party must subscribe for notifications by sending the API endpoint address to the API Provider and requesting that they provide updates to a given API resource to that endpoint address.
- If the Third Party’s request is valid, the API Provider will provide notifications when there is a change to the specific API resource – for instance, a change in the status of a consent from active to revoked.
- At this point the Third Party will know that a change has occurred and can retrieve the specific resource to obtain the status.
Under version 3.0 of the API standards, the event notification function is limited to consent statuses. However future development may build on this to enable notifications about transactions, account balances, or changes to customer contact information.
