The overseer of the UK’s open banking initiative has promised “imminent” upgrades to application programming interface (API) standards, amid complaints from payment initiators that existing models are unworkable.
Speaking at this week’s Money20/20 Europe event in Amsterdam, Imran Gulamhuseinwala, trustee of the Open Banking Implementation Entity, said a new iteration of the standards would be published and implemented by the UK’s nine largest banks in the next two months.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.