Open Banking two months on from the RTS deadline with Chris Michael, Interim Head of Technology at Open Banking

1. Open Banking
two months on from
the RTS deadline
14 Nov 2019
Chris Michael, Head of Technology
© Open Banking Limited 2019

2. Agenda
• Progress versus the roadmap?
• The UK ecosystem status
• Performance and conformance
• Example consent and authentication journeys
• Example use cases
• What’s next?

3. Open Banking Roadmap
2016 2017 2018 2019 2020
Sep 2016: OBIE formed Jan 2018: PSD2 comes into force
Mar 2019: APIs to be available for testing
R/W Standard v1
Sep 2019: PSD2/RTS deadline
Mar 2020: FCA adjustment period ends
CMA9
implementation
R/W Standard v2
CMA9
implementation
R/W Standard
v3.1
v3.1.1 - 3.1.x v3.2.x
CMA9 + other ASPSP
implementation
TBC
AISP adoption
PISP and CBPII adoption
CMA9 + other ASPSP implementation

5. Successful API calls (CMA9 since Jun ‘18)
Notes on the data: Successful API calls are based on data submitted by account providers (ASPSPs) to Open Banking.
May-July 2018 includes data from 8 providers. August 2018 onwards includes data from 9 providers and 16 brands in total.
In June 2019, the number of brands increased to 17. Since July 2019 we have 18 brands.

6. CMA9 Availability
Notes on the data: Average API availability is based on data submitted by account providers (ASPSPs) to Open Banking.
May-July 2018 includes data from 8 providers. August 2018 onwards includes data from 9 providers and 16 brands in total.
In June 2019, the number of brands increased to 17. Since July 2019 we have 18 brands.

7. CMA9 availability (by brand for Sep)
Notes on the data: API availability is based on data submitted by account providers (ASPSPs) to Open Banking. Core and
non-core hours are based on planned and unplanned API downtime reported to / recorded by Open Banking.

8. CMA9 response times
Notes on the data: Average API call response times are based on data submitted by account providers (ASPSPs) to Open
Banking. May-July 2018 includes data from 8 providers. August to November 2018 includes data from 8 providers and 15
brands in total. December 2018 onwards includes data from 9 providers and 16 brands. In June 2019, the number of brands
increased to 17. Since July 2019 we have 18 brands.

9. CMA9 response times (by brand for Sep)
Notes on the data: This chart includes data from 9 providers and 18 brands in total.

10. Functional Conformance
As at 11 Nov 2019

11. Security Conformance
As at 11 Nov 2019

12. FAPI Conformance
As at 11 Nov 2019

13. Example consent and
authentication journeys

14. https://vimeo.com/326837378

16. https://youtu.be/hcWPnO-p4Hs

17. Example use cases

18. Putting
consumers in
charge of their
finances

19. Making business accounting better

20. Reducing the cost of consumer credit

21. Driving financial inclusion

22. Ecommerce

23. Saving money on
international
payments

24. NESTA challenge: £1.5m prize fund
• Personal current account comparison that
supports ‘unbundling’ and easy switching to a
different account provider
• Helping people use an overdraft provider that
is not their bank and avoid expensive,
unexpected fees (‘unbundling’ of overdrafts
from personal current accounts)
• Automated/‘robo’ financial management to
help build savings buffers and manage debt
• Widening access to affordable credit
including alternative lending options and
innovations in credit scoring
• Boosting earnings on savings, including high
balance sweeping so people earn interest on
their credit balance
• Micro-payments towards savings

25. What’s next?
Evolution of the standard
To include refunds, 90-day re-
authentication, CoP/CRM in
PISP journeys, and Variable
Recurring Payments
Implementation improvement
Ongoing monitoring and
support, with a focus on
reduced authentication friction,
and conformance/certification
Ecosystem growth
Activity and services to drive
adoption by ASPSPs, TPPs
and TSPs, thereby enabling
more PSU propositions
End customer benefits envisaged by the CMA Order

26. Still TBC
• Extension of standard to support (for example)
• Trustmark(s)?
• Identity?
• Non PSD2 accounts?
• Open Finance?
• Smart Data?
• Interoperability with other global standards

27. Thank you
chris.michael@openbanking.org.uk
www.openbanking.org.uk