open banking

OBL publishes Open Banking Standard v4.0.1

01 April 2026

Open Banking Limited (OBL) has published version 4.0.1 of the Open Banking Standard, following approval by the Trustee. 

This is a targeted update designed to improve clarity, consistency and ease of use across the Standards. While it is not a major release, v4.0.1 plays an important role in supporting stability across the open banking ecosystem during a period of transition. 

The Open Banking Standard underpins how organisations across the ecosystem work together safely and consistently. As the regulatory landscape continues to evolve, it is important that the Standards remain accurate, clear and practical to implement. 

Version 4.0.1 focuses on refining existing requirements rather than introducing significant new functionality. The aim is to remove ambiguity, support regulatory compliance and ensure participants can continue to deliver reliable services to end users. 

As highlighted in OBL’s recent report, with independent analysis completed by EY, confidence, consistency and practical implementation are critical to unlocking the real‑world benefits of open banking. 

The update has been shaped with input from an Expert Advisory Group of industry specialists, helping ensure changes reflect real‑world experience and implementation needs. 

What’s changed

The release includes updates across the technical specifications, Customer Experience Guidelines and Operational Guidelines. In broad terms, the changes: 

  • Improve consistency across documentation 
  • Clarify how key requirements should be implemented 
  • Support participants in meeting regulatory obligations 

Notable updates include additional international payments data, refinements that affect Variable Recurring Payments for sweeping, and confirmation of how certain fields should be treated across the Standard. The update also introduces Cryptoassets (CRYP) as a Transaction Risk Indicator, supporting firms that choose to use this information as part of their risk controls. 

A number of known issues have also been corrected, along with updates to supporting guidance and FAQs. 

“Version 4.0.1 demonstrates OBL’s continued commitment to maintaining a robust and reliable Open Banking Standard. While this is not a major release, it plays a vital role in ensuring the Standards remain accurate, consistent, and easy to implement, thus supporting ongoing confidence and stability across the ecosystem, and ensuring the tremendous benefits of Open Banking are maintained.” 

Marion King, OBL Chair and Trustee

“This release is deliberately focused on assurance rather than transformation. It brings together a set of targeted refinements that improve clarity and usability, reflecting close collaboration with the ecosystem and a shared focus on delivering change smoothly and pragmatically.” 

Matthew Wallace, Head of Standards at OBL

Additional updates

Alongside v4.0.1, other related updates have been made, including changes to FAQs and the publication of version 3.4 of the Dynamic Client Registration specification. There is no change to the MI Standard, which remains at version 3.1.11. 

OBL will continue to work closely with participants to maintain momentum and provide clarity as open banking evolves. By keeping the Standards accurate, consistent and fit for purpose, OBL aims to support safe innovation today while laying the foundations for future development. 

Full details of the changes, including technical documentation and change logs are available on the Open Banking Standards website. 

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