Open Banking
From MgmtWiki
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
| Entity Name | Type | Cat | Explanation for category | |
| ID | identifier unique within the db | 1 | required for internal lookups | |
| Payment Service User (PSU) | Natural Person | 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]
