Difference between revisions of "Open Banking"

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(Context)
(Context)
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|-
 
|-
 
|Payment Service User (PSU)
 
|Payment Service User (PSU)
Person
+
|N/A
N/A
+
|A Payment Services User is a natural or legal person making use of a payment service as a payee, payer or both
A Payment Services User is a natural or legal person making use of a payment service as a payee, payer or both
+
|No
No
 
 
|-
 
|-
 
|Payment Service Provider (PSP)
 
|Payment Service Provider (PSP)
Legal Entity
+
|Legal Entity
N/A
+
|N/A
A legal entity (and some natural persons) that provide payment services as defined by PSD2 Article 4(11)
+
|A legal entity (and some natural persons) that provide payment services as defined by PSD2 Article 4(11)
Yes
+
|Yes
 
|-
 
|-
 
|Account Servicing Payment Service Provider (ASPSP)
 
|Account Servicing Payment Service Provider (ASPSP)
Legal Entity
+
|Legal Entity
PSP
+
|PSP
|-
 
 
|Account Servicing Payment Service Providers provide and maintain a payment account for a payer as defined by the PSRs and, in the context of the Open Banking Ecosystem are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers’ account transaction data available to third party providers via their API end points.
 
|Account Servicing Payment Service Providers provide and maintain a payment account for a payer as defined by the PSRs and, in the context of the Open Banking Ecosystem are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers’ account transaction data available to third party providers via their API end points.
Yes
+
|Yes
 
|-
 
|-
 
|Third Party Providers / Trusted Third Parties (TPP)
 
|Third Party Providers / Trusted Third Parties (TPP)
Legal Entity
+
|Legal Entity
PSP
+
|PSP
 
|-
 
|-
 
|Third Party Providers are organisations or natural persons that use APIs developed to Standards to access customer’s accounts, in order to provide account information services and/or to initiate payments. Third Party Providers are either/both Payment Initiation Service Providers (PISPs) and/or Account Information Service Providers (AISPs).
 
|Third Party Providers are organisations or natural persons that use APIs developed to Standards to access customer’s accounts, in order to provide account information services and/or to initiate payments. Third Party Providers are either/both Payment Initiation Service Providers (PISPs) and/or Account Information Service Providers (AISPs).
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|-
 
|-
 
|Payment Initiation Service Provider (PISP)
 
|Payment Initiation Service Provider (PISP)
Legal Entity
+
|Legal Entity
TPP
+
|TPP
A Payment Initiation Services Provider provides an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider.
+
|A Payment Initiation Services Provider provides an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider.
Yes
+
|Yes
 
|-
 
|-
 
|Account Information Service Provider (AISP)
 
|Account Information Service Provider (AISP)
Legal Entity
+
|Legal Entity
TPP
+
|TPP
An Account Information Service provides account information services as an online service to provide consolidated information on one or more payment accounts held by a payment service user with one or more payment service provider(s).
+
|An Account Information Service provides account information services as an online service to provide consolidated information on one or more payment accounts held by a payment service user with one or more payment service provider(s).
 
|}
 
|}
  

Revision as of 08:58, 28 July 2018

Full Title or Meme

Open Banking is both a concept and an actual implementation in the UK.

This page will address both

Context

Definitions of interest from the UK

Element Name Contents Cat Explanation for category
ID identifier unique within the db 1 required for internal lookups
Payment Service User (PSU) N/A A Payment Services User is a natural or legal person making use of a payment service as a payee, payer or both No
Payment Service Provider (PSP) Legal Entity N/A A legal entity (and some natural persons) that provide payment services as defined by PSD2 Article 4(11) Yes
Account Servicing Payment Service Provider (ASPSP) Legal Entity PSP Account Servicing Payment Service Providers provide and maintain a payment account for a payer as defined by the PSRs and, in the context of the Open Banking Ecosystem are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers’ account transaction data available to third party providers via their API end points. Yes
Third Party Providers / Trusted Third Parties (TPP) Legal Entity PSP
Third Party Providers are organisations or natural persons that use APIs developed to Standards to access customer’s accounts, in order to provide account information services and/or to initiate payments. Third Party Providers are either/both Payment Initiation Service Providers (PISPs) and/or Account Information Service Providers (AISPs).

Yes

Payment Initiation Service Provider (PISP) Legal Entity TPP A Payment Initiation Services Provider provides an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider. Yes
Account Information Service Provider (AISP) Legal Entity TPP An Account Information Service provides account information services as an online service to provide consolidated information on one or more payment accounts held by a payment service user with one or more payment service provider(s).

Problems

Solutions

  • The UK open banking specs are keep on an open source repository.[1]

References

  1. CEF: Opening a Bank Account Across Borders with an EU National Digital Identity for OIX Europe
    1. Open Banking Specs version 1.1.1-rc1 https://openbanking.atlassian.net/wiki/spaces/DZ/pages/28737919/The+Open+Banking+Directory+-+v1.1.1-rc1