Good Practice

Delivering innovative, competitive and secure products and services is an exacting activity. These resources cover specialist and broad recommendations not yet officially part of the Standard.

This version is:

Published 1 year ago 31 May 2023

Implementation

VRPs for Sweeping

Providing prospective sweeping service providers (“SSPs”) an overview of the key regulatory requirements to take into account when designing a sweeping service and OBIE guidelines for SSPs to consider in the context of sweeping.

Data Management

Payment account transaction data enables Third Party Providers (TPPs) to provide innovative financial services to their customers, and it is therefore vital that customers are given clarity, security and control over how their data will be used.

Third party providers

Introduction

These guidelines help TPPs deliver innovative, competitive and secure products and services within the evolving Open Banking Ecosystem.

Change Management

OBIE will continue to publish new versions of the Standard to cater for regulatory changes, Open Banking Roadmap requirements and other approved changes. Publication will take place within appropriate timeframes to give Participants adequate time to adapt their specific infrastructure.

Testing

Supporting TPPs with the ability to test their products and services (at initial launch and through subsequent changes) by providing key tools and infrastructure to ensure that their products have been sufficiently tested prior to go-live.

Issues and Disputes

Maintaining the highest standards of service delivery, even when problems occur, is critical to provide a well-functioning open banking ecosystem. This section provides guidance on customer complaints and infrastructural failures.

Contract and Supplier Management

This section sets out the key considerations when you are procuring or contracting services. Taking a systematic approach will increase speed to contract, minimise risk and help drive more value from the supplier.

Business Continuity and Disaster Recovery

Business Continuity and Disaster Recovery are processes that all firms should have but should never use. In the event of either, if a firm does not have them it could be catastrophic for the firm. There can be confusion between the two, but they are quite easy to distinguish:

Change Log

A summary list of changes from V3.1.10 to
V3.1.11. It indicates where changes have
removed or added copy or functionality.