Tide Platform Ltd API

In 2015, George Bevis founded Tide which is a digital banking platform that operates out of the UK. With an intention to make banking services more accessible and inexpensive for small and medium-sized businesses, this company was established. This service provides greater accessibility and affordability than traditional high street banks.

Rapid growth is what Tide has experienced since its launch, with over 300,000 members attracted and more than £10bn in transactions processed. The company now provides business loans and credit facilities as part of its service offerings. Xero and FreeAgent are among the leading accounting software providers that it has formed partnerships with.

Tide has plans to further expand their product range going forward. Tide intends to expand its clientele, especially in underserved markets like freelancers and individual entrepreneurs.

By using multiple APIs, Tide is able to provide its services. These APIs include:

Faster Payments enables instant bank transfers between Tide accounts and other UK banks.

By using Open Banking, Tide can safely obtain customer information from other financial institutions and banks, creating a more seamless and unified banking experience.

Stripe handles payment processing and card transactions for Tide’s customers.

At Tide, protecting customer data is paramount; therefore, they employ several measures like two-factor authentication and end-to-end encryption. In the past, the company has experienced some security breaches though. In 2020, some of its customers had their personal information exposed due to a data leak.

Positive feedback from customers and developers regarding API performance is generally what Tide has received. Although rare, there have been reports of response time being slow and connection issues occurring.

At times of high demand, Tide has experienced some downtime before. That said, investments have been made by the organization into improving its infrastructure in order to increase dependability and lower the chance of experiencing downtime.

To offer services in a flexible and scalable way, Tide’s infrastructure is created using both cloud-based as well as on-premise systems. The organization leverages several tools and technologies to oversee and administer its systems, such as monitoring in real-time and automated incident response.