On Tuesday 15th September the OBIE welcomed members of our ecosystem to a two-hour webinar, focussing on the FCA’s recently-published Consultation on eIDAS certificates. Here we replay some of the questions and insights from this well-attended event, where OBIE experts and a representative from the FCA discussed the impact that any revocation of eIDAS certificates would have on the UK’s open banking ecosystem.
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What will happen to existing banking connections using eIDAS certificates from the 1st January 2021?
What about passporting under the FCA’s Temporary Permissions Regime?
As an Account Servicing Payment Service Provider (ASPSP) will I need to support both eIDAS certificates for EU TPPs, as well as the alternative solution for UK TPPs?
My firm acts as an ASPSP – what actions should we take to be compliant with the new rules – do we have to revoke the eIDAS certificates for TPPs registered with us?
We (a Third Party Provider or TPP) would appreciate any information on how UK companies can continue to work in Europe after our eIDAS certificates are revoked. Will we be required to open an office in Europe in order to do European open banking?