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OBIE launches Variable Recurring Payments and Sweeping consultation phase II

press release

The Open Banking Implementation Entity (OBIE) has today published its response and revised its proposals following the first phase of its consultation into Variable Recurring Payments and Sweeping.

As part of the second phase of this consultation, the OBIE welcomes stakeholder views on the following papers, via an online consultation survey which will run through until Friday 12th February.

  1. Revised Sweeping Evaluation Consultation Paper
  2. Revised Variable Recurring Payments Proposition Consultation Paper
  3. Feedback Summary and OBIE Response Paper
  4. VRP and Sweeping User Research Preliminary Report

‘Tracked Changes’ versions of the Consultation Papers, highlighting changes since the initial publication, can be found via the links below:

  1. ‘Tracked Changes’ Sweeping Evaluation Consultation Paper
  2. ‘Tracked Changes’ Variable Recurring Payments Proposition Consultation Paper
  3. ‘Tracked Changes’ Feedback Summary and OBIE Response Paper

In addition, based on feedback received from the first phase of consultations on Variable Recurring Payments and Sweeping, OBIE has produced revised VRP Standards and welcomes feedback from interested stakeholders. This includes the following artefacts:

  1. API Specification
  2. Customer Experience Guidelines
  3. MI Specification

Consultation Process

  • For the Sweeping Evaluation, Variable Recurring Payments Proposition and Feedback Summary and OBIE Response Papers, please submit feedback via the online consultation survey
  • For the VRP Standards documents, please respond via Confluence Feedback Pages
  • Please do not resubmit feedback provided during the first phase
  • Please submit one response document per organisation. Responses are deemed to be non-confidential
  • Consultation responses will be reviewed and OBIE will produce recommendations which will be submitted to the Implementation Entity Steering Group for consideration in late March 2021
  • The deadline for feedback for this consultation is 5pm, Friday, 12 February 2021
  • We are holding a consultation event on 3rd February 2021, please register here

If you experience any issues accessing any of these links, please raise a ticket via the Service Desk Portal (if you have access) https://openbanking.atlassian.net/servicedesk/customer/portal/1 or email the OBIE Service Desk at ServiceDesk@openbanking.org.uk to request access.

-ENDS-

About the Open Banking Implementation Entity:

The Open Banking Implementation Entity (OBIE) is the entity set up by the CMA in 2016 to deliver Open Banking. Its trading name is Open Banking Limited. OBIE is governed by the CMA and funded by the CMA9 (Allied Irish Bank, Bank of Ireland, Barclays, Danske, HSBC, Lloyds Banking Group, Nationwide, RBS Group and Santander). Its works with the CMA 9, as well as challenger banks, financial technology companies, third party providers and consumer groups.

OBIE’s role is to:

  • Enforce the obligations on the CMA9 under the CMA Order
  • Design the specifications for the Application Programme Interfaces (APIs) that banks and building societies use to securely provide Open Banking
  • Support regulated third party providers and banks and building societies to use the Open Banking standards
  • Create security and messaging standards
  • Manage the Open Banking Directory which allows regulated participants like banks, building societies and third-party providers to enrol in Open Banking
  • Produce guidelines for participants in the Open Banking ecosystem
  • Set out the process for managing disputes and complaints