Open Banking Ecosystem
GeneralDefinition
The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking. This includes the API Standards, the governance, systems, processes, security and procedures used to support participants. It encompasses banks, TPPs, regulators, and technical service providers.
Related Terms
Frequently Asked Questions
What is Open Banking Ecosystem?
The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking. This includes the API Standards, the governance, systems, processes, security and procedures used to support participants. It encompasses banks, TPPs, regulators, and technical service providers.
What does Open Banking Ecosystem stand for in Open Banking?
Open Banking Ecosystem is a key term in the Open Banking ecosystem. The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking. This includes the API Standards, the governance, systems, processes, security and procedures used to support participants. It encompasses banks, TPPs, regulators, and technical service providers.
More General Terms
Open Banking Services
The Open Banking services provided by Open Banking Limited to Participants, including but not limite...
Open Finance
Open Finance is the extension of Open Banking-like data sharing and third party access to a wider ra...
Participant
An API Provider, API User, ASPSP, or TPP that currently participates in the Open Banking Ecosystem. ...
PSU
Payment Services UserA Payment Services User is a natural or legal person making use of a payment service as a payee, pay...
Smart Data
Smart data is the secure sharing of customer data with authorised third-party providers (TPPs), at t...
SME
Small and Medium-sized EnterprisesSmall and medium-sized enterprises by scale of business, as defined by the CMA, with a turnover less...
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