The Open Banking Implementation Entity (OBIE) is pleased to announce the release of Version 2 of the Read / Write Data API Specifications. This follows on from the successful release of Version 1 in July 2017, covering personal and SME business current accounts, and the announcement in November 2017 that the Open Banking Standards would be enhanced and expanded.
Imran Gulamhuseinwala, Trustee of the Open Banking Implementation Entity (OBIE) said:
“This is an important step forward for Open Banking and the opportunity it will bring to customers and small businesses in managing, moving and making more of their money. These changes will enable millions more customers to choose to benefit from the innovation and competitive benefits which Open Banking can bring: securely, safely and with confidence.”
Version 2 adds significant new functionality, including:
- Extending the account information ‘Read’ Standard to include all sterling denominated payment account products covered by the European Union’s second Payments Services Directive (PSD2). This means customers using credit cards, e-wallets and prepaid cards, as well as payments-enabled savings, deposit, loan and mortgage products, will also be able to securely access and benefit from Open Banking enabled account information
- Enabling Third Party Providers, like comparison websites, to access bank account product information for personal and business customers with older ‘back book’ bank accounts. Combined with information made available by the Open Banking Open Data APIs, this will mean those customers can more easily compare and find the best deals and products.
For further details and to access the API Specifications, please visit our Developer Zone.