OBL publishes Open Banking Standard v.3.1.11 – includes new wallet functionality 

30 May 2023

Open Banking Limited (OBL) is pleased to announce the publication of the Open Banking Standard version 3.1.11. This is the first release following the substantive completion of the Competition and Markets Authority’s (CMA’s) Revised Roadmap and is mainly made up of optional updates. 

Fiona Hamilton, Head of Standards, OBL, says: “While the updates are relatively limited, we are pleased to ensure the ongoing relevance of the Open Banking Standard with new propositions such as the wallet functionality supported with this release.  

“The Standard has laid the foundations for a thriving open banking ecosystem which has now surpassed 7 million users. As the Joint Regulatory Oversight Committee work unfolds, we will continue to ensure the evolution of the Standard to support future regulatory changes and market-driven requirements.” 

The proposed updates reflect Order-related activity submitted as change requests by the ecosystem that was supported by an Expert Advisory Group (EAG), and Technical Design Authority (TDA) decisions for updates to the Read/Write specifications. They also address several minor known issues. 

Key changes in v3.1.11 

  • Updates to the read/write specifications to correct Known Issues, additional guidance relating to idempotency and proposition 21b (wallets in scope of the Payment Services Regulations 2017 (PSRs)). 
  • New version (v3.4) of the Dynamic Client Registration specification (this will not be published until Pay.UK is ready).
  • Updates to the Customer Experience Guidelines to allow flexibility in the naming of dashboards and requirements added around support minimum and maximum payment limits that are consistent with PSR requirements, and changes to reflect the FCA’s new Consumer Duty. 
  • Clarifications and updates to the Good Practice Guidelines: VRPs for sweeping.

These updates have driven changes to the documents listed below. The TDA approved the API specification updates on 24 May 2023 which are documented here (see decisions 259 to 262).  

For further information, please contact: