Re: The Open Banking Standard (HTTP API)

Unfortunately the Open Banking Standard only really addresses access to
data as opposed to actual transactional functions that could be executed
via the API (like payments) unless I missed something in my reading.

That said, I think PSD2 is still a key topic for the IG and does create a
requirement for some standardized HTTP APIs for, among other things,

I also think that the W3C work in authentication and hardware security has
an important role to play in the PSD2 technical standards development

On 18 February 2016 at 17:44, Frédéric Meignien <> wrote:

> Hi,
> read it very quickly:
> This document is the exact strategic consequence of what we re just
> describing with Cyril.
> They realized how disrupting is DSP2, with its PISP, AIPSP, ASPSP...and
> they are running straight into the breach.
> DSP2 just blew up the concept of the bank monopolizing the supply chain of
> payments.
> Bankers do not have such a vision usually (!!!).
> So we are right in the subject.
> W3C works can give a real asset to competitors who want to enter this
> market (not necesssarily banks) and the advantage will be great if we also
> have the authentication framework going along with it ! See page 92 for
> instance.
> Because today, the king of authentication is VISA, with its 3DS which
> ensures the complete security loop to ensure the customer consent mutual
> trust between actors.
> But I'm sure we can do better (please have a look into the SCAI document).
> Fred
> Le 18/02/2016 16:24, Manu Sporny a écrit :
>> This is a report noting that the UK has started toward an Open Banking
>> API using W3C/IETF technology. They're starting their own Standards
>> Setting Organization to do it (sadly). The API will give access to a
>> variety of banking features and cites PSD2 as one of the drivers for the
>> work. W3C is mentioned as important at the bottom of page 138.
>> I keep saying that not doing HTTP API work is a missed opportunity for
>> W3C as this stuff is going to become more and more commonplace:
>> This is also why the HTTP API in the Web Payments WG is important. It
>> doesn't cover nearly everything that's covered in the Open Banking API,
>> but it does cover one major part of it (payments).
>> This is directly relevant to the IG's future work.
>> -- manu

Received on Thursday, 18 February 2016 16:12:57 UTC