[Openid-specs-fapi] UK Open Banking Development Group & the CMA Implementation Entity

Dave Tonge dave.tonge at momentumft.co.uk
Tue Aug 30 16:08:18 UTC 2016


HI Nat,

Thanks for the email. I will draft the letter and send to you tomorrow.

Dave

On Tue, 30 Aug 2016 at 16:17 Nat Sakimura via Openid-specs-fapi <
openid-specs-fapi at lists.openid.net> wrote:

> Hi Dave,
>
> Hope you had a good annual leave.
>
> It is best to have someone who attends both organization's meetings
> as a liaison officer, so I would propose to elect you as our
> liaison officer to the implementation entity, if you are ok with it.
>
> Usually, as a first step, we create a liaison letter.
> Could you craft one so that I can get the endorsement
> of the liaison committee of OIDF so that you will have
> a mandate to act as the liaison officer?
>
> Best,
>
> Nat Sakimura
>
> On 2016-08-30 22:49, Dave Tonge via Openid-specs-fapi wrote:
> > Hi Nat,
> >
> > Apologies but I've only just got back from annual leave.
> >
> > There is an Implementation Entity Steering Group Stakeholder Event on
> > the 7th September in London that I will hopefully attend:
> >
> http://www.paymentsuk.org.uk/news-events/events/implementation-entity-steering-group-stakeholder-event
> > [4]
> >
> > I suggest that the FAPI WG reach out to the secretariat before then. I
> > am happy to reach out on behalf of the WG - alternatively it may be a
> > good idea for the communication to come from yourself, given your
> > track record in the development international standards.
> >
> > Please let me know in which way I can help?
> >
> > Thanks
> >
> > Dave
> >
> > On Mon, 15 Aug 2016 at 02:31 Nat Sakimura <n-sakimura at nri.co.jp>
> > wrote:
> >
> >> Hi Dave,
> >>
> >>
> >>
> >> Sorry for a tardy reply. It was the “Obon” (coming of ancestral
> >> spirits) holiday in Japan and I was in a mountain that I had very
> >> little network access.
> >>
> >>
> >>
> >> Thank you very much for the detailed explanation. It is very
> >> helpful.
> >>
> >>
> >>
> >> I gather that we need to establish a communication path with the
> >> Implementation Entity quite quickly before they decide on their own.
> >> At least, we should be able to supply some expertise on the OAuth
> >> side, just like we are going to feed it back to US FS-ISAC’s
> >> group.
> >>
> >>
> >>
> >> What is the concrete step that we need to do this?
> >>
> >> --
> >>
> >>
> >>
> >> PLEASE READ :This e-mail is confidential and intended for the
> >>
> >> named recipient only. If you are not an intended recipient,
> >>
> >> please notify the sender  and delete this e-mail.
> >>
> >>
> >>
> >> FROM: Openid-specs-fapi
> >> [mailto:openid-specs-fapi-bounces at lists.openid.net] ON BEHALF OF
> >> Dave Tonge via Openid-specs-fapi
> >> SENT: Wednesday, August 10, 2016 5:48 PM
> >> TO: Openid-specs Fapi <openid-specs-fapi at lists.openid.net>
> >> SUBJECT: [Openid-specs-fapi] UK Open Banking Development Group & the
> >> CMA Implementation Entity
> >>
> >>
> >>
> >> Hi all
> >>
> >> Apologies that I wasn't able to join the last meeting. Unfortunately
> >> the meeting schedules are not ideal for European time zones.
> >>
> >> I saw that there was discussion about the Open Banking Development
> >> Group and I thought it worth giving some background to this group.
> >>
> >> The UK Competitions and Markets Authority (CMA) yesterday released
> >> their final report into the UK Retail Banking Sector.
> >>
> >
> https://www.gov.uk/cma-cases/review-of-banking-for-small-and-medium-sized-businesses-smes-in-the-uk
> >> [1]
> >>
> >> One of their key remedies is Open Banking APIs. They have embraced
> >> the Open Banking Working Group report and are:
> >>
> >>
> >>
> >>> _"requiring that RBSG, LBG, Barclays, HSBCG, Nationwide,
> >>> Santander, Danske, BoI and AIBG (the largest banks in GB and NI)
> >>> adopt and maintain common API standards through which they will
> >>> share data with other providers and with third party service
> >>> providers including PCWs, account information service providers
> >>> (AISPs) and payment initiation service providers (PISPs)."_
> >>
> >> These APIs will be used both for product and service data, as well
> >> as transactional data. The section relating to transactional data
> >> is:
> >>
> >>
> >>
> >>> _"requiring the largest banks in GB and NI (listed above) to agree
> >>> with the IT open standards for APIs with full read and write
> >>> functionality and make available through them PCA and BCA
> >>> transaction data sets, to be released no later than the
> >>> transposition deadline of the second Payment Services Directive
> >>> (PSD2) ie by 13 January 2018."_
> >>
> >> While some of us in the industry were pushing for more aggressive
> >> timelines, we are still happy that this is a CMA
> >>
> >> ​order
> >>
> >>  that the banks will have to comply with.
> >>
> >> The CMA have instructed the banks to set up an Implementation Entity
> >> with an independent chair. The entity will be funded by the banks
> >> but the CMA have recommended that there is involvement from
> >> non-banking industry participants on the implementation entity.
> >> Payments UK have already set up this Implementation Entity:
> >>
> > http://www.paymentsuk.org.uk/policy/payments-CMA-remedy-phase1/temporary
> >> [2]
> >>
> >> Currently this implementation entity has already started meeting and
> >> discussing the technical standards for the API. Its current
> >> membership has only representatives from the Top 9 UK banks and
> >> Payments UK.
> >>
> >> The ODi are proposing that they administer and co-ordinate an "Open
> >> Banking Development Group" to _"drive forward open innovation around
> >> an open banking standard on a UK and international basis"._
> >>
> >> ​My understanding is that a
> >>
> >> t the moment this is an initiative of the ODi
> >>
> >> ​ and that ​
> >>
> >> there is no wider mandate for OBDG.
> >>
> >> The "hope" is that the OBDG will work with the above mentioned
> >> implementation entity:
> >>
> >>
> >>
> >>> _"We hope that the OBDG will be able to work with the CMA IE to
> >>> ensure the standards and APIs used by the CMA IE to meet the
> >>> CMA’s defined objectives are consistent with the work done by
> >>> the OBDG."_
> >>
> >>
> >>
> >>
> >
> https://docs.google.com/document/d/1KBp3cWOGePUrdy4m52zJuvg5g06lLHWdtYAFDLz48NA/edit
> >> [3]
> >>
> >>
> >>
> >> I think it is good that the FAPI WG engage with the OBDG, but with
> >> the understanding that this is early days for the OBDG.
> >>
> >>
> >>
> >> More importantly I suggest that the FAPI WG establish communication
> >> with the Implementation Entity directly. This is the organisation
> >> with the mandate to establish open banking APIs in the UK, it has no
> >> further need for funding and is already meeting and discussing
> >> APIs.
> >>
> >>
> >>
> >> Please let me know if I can be of any assistance in this area.
> >>
> >>
> >>
> >> Thanks
> >>
> >>
> >>
> >> --
> >>
> >> DAVE TONGE
> >>
> >> CTO
> >>
> >> 10 Temple Back | Bristol | BS1 6FL
> >>
> >> T: +44 (0)117 280 5120
> >>
> >> M: +44 (0)7577 815570
> >>
> >>
> >>
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> >
> > Links:
> > ------
> > [1]
> >
> https://www.gov.uk/cma-cases/review-of-banking-for-small-and-medium-sized-businesses-smes-in-the-uk
> > [2]
> > http://www.paymentsuk.org.uk/policy/payments-CMA-remedy-phase1/temporary
> > [3]
> >
> https://docs.google.com/document/d/1KBp3cWOGePUrdy4m52zJuvg5g06lLHWdtYAFDLz48NA/edit
> > [4]
> >
> http://www.paymentsuk.org.uk/news-events/events/implementation-entity-steering-group-stakeholder-event
> >
> > _______________________________________________
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