The Standard goes beyond the Technical Specifications to include Customer Experience Guidelines and Operational Guidelines.The Standard is open to all account providers (ASPSPs) and has been implemented across 90% of the UK payments account market. It is designed to enable a well-functioning, successful ecosystem, where there are no barriers to the provision of products and services by TPPs.
The Standard covers all online payment accounts and includes the following core components:
01View the Read/Write API Specifications
These specifications consist of technical documentation, usage examples and swagger files:
- Account and Transaction API Specification v3.1.1
- Payment Initiation API Specification v3.1.1
- Confirmation of Funds API Specification v3.1.1
- Event Notification API Specification v3.1.1
02View the Security Profiles
These profiles have been developed together with the Open ID Foundation and cover third party on-boarding, re-direct and decoupled flows:
- Dynamic Client Registration Specification v3.1
- Open Banking Security Profile Implementer’s Draft v1.1.2
- Financial-grade API – Part 2: Read and Write API Security Profile draft-06
- Financial-grade API – Client Initiated Backchannel Authentication (CIBA) Flow – Core 1.0 draft-02
03View the Customer Experience Guidelines
These guidelines bring together regulatory requirements and extensive customer research to help third party providers and account providers deliver a great customer experience and avoid any unnecessary delay or friction as required under PSD2:
- Customer Experience Guidelines v1.2
- Customer Experience Guidelines Checklist v1.2
04View the Operational Guidelines
These guidelines support account providers implementing effective and high-performing dedicated interfaces while assisting them in fulfilling their regulatory obligations relating to performance and availability, design and testing, problem resolution, and management information:
- Operational Guidelines v1.0
- Operational Guidelines Checklist v1.0
This guidance explains the categorisation of requirements for account providers and third party providers implementing any part of the Standard. This covers the API Specifications, Security Profiles, Customer Experience Guidelines and Checklist, and Operational Guidelines and Checklist. This guidance should be read before referencing the Standards documents.
The conformance tools help account providers and third party providers test they have implemented each of the above elements of the Standard correctly.
The certification service can be used by account providers as evidence of conformance to the Standard when they request an exemption from the contingency mechanism with their competent authority.
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.