Granting ‘explicit’ consent to share personal or SME account and transactional data under Open Banking must make it very clear why it’s needed, what’s being shared and for how long. This is where PSD2 is the regulatory driver.
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Important: For the purposes of this section, the definition of “explicit consent” under PSD2 is not intended to be read as the definition of “consent” under GDPR. The guidance in this section refers to the definition under PSD2 for the provision of account information service only.
“To provide a [ Proposition Classification ] service, we need to access [specific types of account information]”
Examples for customer propositions in this table.
Important: These examples are intended to be illustrative only. Entities may require additional regulatory permission(s) to perform some of these services. It is the sole responsibility of entities to ensure they have the relevant regulatory permission for each service they undertake and meet any applicable regulatory requirement
Examples for SME Propositions in this table
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