Recommendations for the next phase of open banking in the UK

The document titled “Recommendations for the next phase of open banking in the UK” by the Joint Regulatory Oversight Committee provides a roadmap for the future of open banking in the UK, with a focus on improving the ecosystem for third-party providers (TPPs).

“We understand that some firms may be passing on Faster Payments payment statuses to TPPs. We ask all ASPSPs to consider whether the correct processes are in place to provide TPPs with relevant Faster Payments payment status information as soon as it has been received and until a final status for the payment has been reached by end of Q3 2023. This would considerably enhance TPPs’ visibility.”

Read the full guidance

Source Regulation