Open Banking

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Full Title or Meme

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

This page will address both


Definitions of interest from the UK

Entity Name Type Cat Description Access
Payment Service User (PSU) Real World Entity N/A 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 provides 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 organisation or natural person 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 provide 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 provide account information services to consolidated information on one or more payment accounts held by a payment service user with one or more payment service provider(s). yes



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


  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