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…

6 min read Mar 2019

Is your bank ready for the first major PSD2 deadline?

One more day remains until the next PSD2 milestone. Tomorrow, the EU banks should make available a sandbox to third party providers for connection and functional testing of their applications and how they interoperate with the bank interface. This can be regarded as a rehearsal for the premier of a…

5 min read May 2021

3 practical ways for any business to leverage open banking

All these changes and challenges businesses must put up with… Add the pandemics to these dynamics and we get an environment difficult for businesses to bloom in. The good news is that some great opportunities are emerging and open banking is one of the most important. What is open banking…