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!!! Overview
[{$pagename}] is a concept to allow the sharing of [Financial Data].
!! [Payment Services Directive]
[Payment Services Directive] ([PSD2]) being spearheaded by the [European Banking Authority] ([EBA]).
Designed to create more competition and stimulate innovation in the banking sector, [PSD2] requires [Account Servicing Payment Service Providers] ([ASPSPs]), including banks, building societies and credit unions, to expose open [Application Programing Interfaces] ([APIs]) to allow other banks and third parties to access their customer account information, when the customer has given their [consent]. The [PSD2] requires that all member states implement this rule as national law by January 13, [2018|Year 2018].
!! [Open Bank Project]
The [Open Bank Project] enables banks to offer an ecosystem of [Third-party] [Applications] and services to their customers.
!! [United Kingdom] [Open Banking OBIE] [1] [2]
The [United Kingdom] [Competition and Markets Authority] ([CMA]) is going beyond [PSD2] for and has mandated [Authentication] is based on [OpenID Connect], which is based on [OAuth 2.0] along with the [OpenID Foundation]'s [Financial API] ([FAPI]) be utilized by the [Open Banking Implementation Entity] ([OBIE])
!! [Open Banking Security Profile]
[Open Banking Security Profile] Read+Write specification document which in turn is based on the Read only specification document.
!! More Information
There might be more information for this subject on one of the following:
[{ReferringPagesPlugin before='*' after='\n' }]
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* [#1] - [Authentication, Authorization, and Consent|https://openbank.apigee.com/oauth2|target='_blank'] - based on information obtained 2017-05-21
* [#2] - [OPEN BANKING|https://www.openbanking.org.uk/about/|target='_blank'] - based on information obtained 2017-06-23