Open Banking Standard v4.0 – OBL responses to consultation feedback and final release plan

14 June 2024
Release scheduled for end of June 2024

Thank you to all the participants who provided valuable input to the Open Banking Standard v4.0 draft consultation. We have now released responses to all the feedback received and have finalised the scope of v4.0 with a release date planned for the end of June. 

You can see the responses and how we are handling them here

There are several changes that were part of the draft release that, following the consultation feedback, will be reverted to v3.1.11. The key ones to note are summarised in the table below. 

Join our v4.0 implementation webinar on Tuesday June 18 

We are hosting a webinar on June 18 from 1.30-3pm to discuss v4.0 implementation and migration to address queries raised during the consultation. If you have not received an invite, please email us.   

The webinar will cover the v4.0 release plan and address any issues/concerns you have about migration and implementation. We will make the material we use available online and record the session for those that are unable to attend. Please forward the invite to any colleagues who need to join.

The proposed agenda is below, please let us know if you wish to discuss any other topics:

  • Migration of long-lived consents (AIS and VRP)
  • FAPI migration
  • CHAPS deadlines and v3.1.x v4.0
  • Permission code updates
  • Outcome of information flows discussions with CMA and FCA
  • Ultimate Creditor and Ultimate Debtor to clarify how they should be used
  • Dual running and timelines for ASPSP implementation.

Stakeholder representations on feedback

Based on the feedback responses and the summary changes listed below, you are entitled to submit stakeholder representations to the Trustee and the CMA if you have any objections to the final v4.0 release. Please submit these via email as soon as possible, and no later than Thursday 27 June, so they can be passed to the Trustee and CMA prior to signing off the release. 

Summary of changes – v4.0 draft to v4.0 final 

Item Treatment 
Status renamed to StatusCode Field name will be reverted to “Status” – note this will still use the 4-character ISO codes in v.40 payloads   
Payment Details endpoint payload changes Will revert to v3.1.11 schema.    Note: this endpoint is optional and will be included in future reviews of payment status.   
UK.OBIE enums renamed to UK.OB These will be reverted to UK.OBIE  
Note: Use of 4-character ISO codes is still expected in payloads such as the error schema.   
 UK.OB added to InSession and OffSession  These will be reverted to InSession and OffSession   
Risk object changes: 
Removal from AISP payloads. 
ExtendedPurpose moved into risk. object from International Payments. 
New risk object introduced for VRP. 

AISP risk object will be reintroduced. 
ExtendedPurpose will be restored to the international payments payload and removed from the risk object. 
VRP will use same risk object as other payment endpoints (as it does in v3.1.11).   
Other changes to information flows:   
Simplified Error Code schema. 
Introduction of ISO codes representing the reason for a failure into the error_description returned in the redirect string. 
Consent Status updated on token expiry or error. ISO codes returned in token endpoint errors. 
StatusReason updated on error/failure/payment status change. 
CANC status introduced. 

Top level “code” and “message” will be restored in the schema but will be marked as optional and deprecated.  ASPSPs can continue to use these fields. 
Including an ISO code in the error_description returned on the query string to a TPP is recommended but optional. 
Updating the Consent Status on token expiry or error is recommended but optional/conditional. Returning an ISO code in the error_description of the token endpoint is optional but recommended. 
Updating the consent StatusReason object on errors or payment updates/failure is recommended but optional/conditional. 
Usage of CANC is optional/conditional but recommended. 
ASPSP and TPP MI No v4.0 specification to be released for MI and v3.1.11 will remain the latest version.