Trust, transparency, and consumer protection
We developed the Open Banking Standards to meet the requirements of the CMA Order. The standards provide transparency and consumer protection assurance.
Three Open Banking Standards
01View the Account Information API specification
This allows regulated third party providers to read account information, such as transaction or balance details in an online payment account.
This could be used to offer services, such as helping customers track their spending or manage their money better.
02View the Payment Initiation API specification
This allows regulated third party providers to set up or make payments directly from an online payment account, such as a single payment or a recurring payment.
This could be used for buying goods online through an app or a website, without the need for a credit or debit card.
03View the Open Data API specification
This makes publicly available information easy to use in mobile and web applications. This data includes product information, ATM and branch locations plus information and metrics about service quality.
This could be used by a comparison website to get up-to-date information about banking products, and enable customers to identify more competitive products.
Open Banking OIDC Security Profile
This sets out the framework for API security in Open Banking. Use it to configure financial-grade API security regimes when building products and services or developing account systems, to ensure the security of every interaction.
- How to Guide: Consent Model, Part 1 – Implementation document (PDF)
The customer consent model is a key part of Open Banking. This guide sets out a common process of consent, authentication and authorisation. Find out how to implement it in this guide.
- How to Guide: Consent Model, Part 2 – User Experience document (PDF)
This guide includes guidance on best practice and examples of customer journeys, based on Open Banking’s extensive research.
- Open Banking Language Research document (PDF)
See the results of the extensive customer research by Ipsos MORI, with recommendations on the language to use when describing Open Banking. This research was used to create the Open Banking consent model.