The OBIE publishes Open Banking Standard version 3.1.10 and reaches Roadmap milestone

04 April 2022

The Open Banking Implementation Entity (OBIE) is pleased to announce the publication of the Open Banking Standard version 3.1.10, which is the final release under the CMA’s revised roadmap.  

Fiona Hamilton, Head of Standards at the OBIE, says: “After five years, we are proud to have reached the milestone of delivering version 3.1.10 which now contains all the content required to complete the revised roadmap. The standard has laid the foundations for a thriving open banking ecosystem with more than 5 million users. We now look forward to the next phase in the evolution of the standard to support future regulatory changes and market-driven requirements.” 

Standard v3.1.10 in detail 

The updates to version 3.1.10 have been made in response to changes in the UK RTS, the requirements defined in the Transaction Risk Indicator proposition document, and feedback from ecosystem participants. These include change requests and reported errata. 

This version includes updates on: 

  • 90-day reauthentication – these changes mean that customers do not need to reauthenticate details with their Account Servicing Payment Service Providers (ASPSPs) every 90 days. They only need to reconfirm their consent with their Account Information Service Providers (AISPs) every 90 days. 
  • Transaction Risk Indicators – these can help ASPSPs understand the purpose of the payment, for example, gambling, which will enable improved risk assessment of open banking payments.  
  • The adoption of more customer-friendly terminology in illustrative wireframes to reflect the Common Terminology Guide.  For example, use of the terms ‘Variable Recurring Payment’ rather than ‘VRP’, and ‘reconfirm’ or ‘reconfirmation’ rather than ‘reconsent’. This will improve customer awareness and understanding of open banking technology.  
  • Known issues updates driven by errata identified in version 3.1.9.  

The above updates have driven changes to the artefacts listed below. The Technical Design Authority has also approved the API Specification. You can see details of TDA Decision 252 here. 

We have updated the following: 

For further information, please contact: