Towards an Open Banking API Standard

Disclaimer: I am a member of the Open Banking Working Group (OBWG) and was involved in drafting the OBWG report. However, the thoughts and opinions presented here are strictly my own.

The OBWG’s report was published yesterday with the somewhat misleading title The Open Banking Standard. We’re a long way from a standard but this report is a significant step along that path. Its purpose is to lay out a roadmap for defining an Open Banking API standard that can achieve widespread adoption, and to put forward some strawman proposals, intended to generate discussion of their merits and weaknesses, with the objective of generating new and better proposals.

The OBWG’s work follows on from the Fingleton report, which looked at the potential benefits of banking APIs and open data, and HM Treasury’s public consultation on data sharing and open data in banking.

The OBWG was convened with three core…

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