API Standards Sought As Open Banking Difficulties Laid Bare | PaymentsCompliance

An influential industry group has said there is still “substantial work required” to standardise UK banks’ application programming interfaces (APIs), in a frank review of open banking’s successes and failures so far. A report produced by the Financial Data and Technology Association (FDATA), which was finalised last week, examined how third-party providers have interacted with banks’ APIs since January 13 — the deadline for launching open banking set by the Competition and Markets Authority.

Read More