Salt Edge contributing to Open-Source with Salt-Parser | Salt Edge

There are lots of formats to store or read financial data; Salt Edge is supporting 3 most widely used: OFX, QIF and SWIFT.

Why are these formats so important?

  • Open Financial Exchange (OFX). A data stream format for exchanging financial information that evolved from Microsoft’s Open Financial Connectivity (OFC) and Intuit’s Open Exchange file formats. Many US banks let customers automatically download their bank statements in the OFX format.
  • Quicken Interchange Format (QIF). An open specification for reading and writing financial data to files. Most personal money management software, such as Microsoft Money, GnuCash, Quicken Personal and Quicken Personal Plus, can read QIF files to import users’ information.
  • Society for Worldwide Interbank Financial Telecommunication (SWIFT). An industry standard for syntax in financial messages. Messages formatted to SWIFT standards can be read and processed by many well-known financial processing systems.

What does this mean for the open-source community? Now, any Ruby developer can use the salt-parser gem to extract data from financial statements.


require 'salt-parser'
require 'pp'

ofx ="spec/ofx/fixtures/v102.ofx").parser

account = ofx.accounts.first
pp "OFX account", account.to_hash

transaction = account.transactions.first
pp "OFX transaction", transaction.to_hash

###Other examples
qif ="spec/qif/fixtures/bank_account.qif", "%d/%m/%Y").parser
pp "QIF account", qif.accounts.first.to_hash

swift ="spec/swift/fixtures/sepa_mt9401.txt").parser
pp "SWIFT account", swift.accounts.first.to_hash

As for us, contributing to open-source is a helping hand towards a better digital world. Startups are using open-source as much as they can – to cut costs and build a community around their products. Now anyone can help you improve your bits of code.

Feel free to open new issues or feature requests on GitHub page and Salt Edge will improve its code.

Special thanks to:

License MIT.

Also visit saltedge-examples if you want to integrate our API with your apps.

External links:

  1. More information on the OFX specification
  2. Original specification Qif
  3. MT940 messages specification SWIFT

Salt Edge report

Discover what is the current state of open banking payments in Europe in 2021

Download now

Related articles

5 min read Jun 2021

If open banking were a colour – it would be green

Did you know that approximately 94% of European citizens believe that protecting the environment is very important, while only little over 80% of them would agree to be part of actions protecting the environment? 80 percent doesn’t seem enough, considering that environmental damage is increasing daily. The good news is…

10 min read Sep 2015

Logging JavaScript Errors in Backbone Applications | Salt Edge

When developing rich JavaScript applications such as, a lot of business logic runs on the client-side. In order to provide an excellent user experience, the developers must have insight into any errors that occur in application runtime. In other words, the team must have a way to be notified when…

4 min read Nov 2021

Salt Edge takes a firm stand on data security in open banking

We’ve been witnessing how banks perfect their open APIs, fintechs develop their super-apps, and users watch all the fuss and don’t really get it. What wasn’t shareable some time ago is now presented as an amazing opportunity, unveiling the perspective of enjoying the perks of open banking. Dmitrii Barbasura, CEO…

7 min read Apr 2021

Why open banking APIs are so different

Open banking comes with a lot of expectations and promises, such as democratisation of Access to Account (X2A), increased competition between banks and fintechs, and provision of better control to end-customers over their financial data and payments. To facilitate the adoption of open banking, several API standards incentives were created…