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What are the Open Banking Implementation Entity's Customer Experience Principles?

In order to drive adoption, participants in the Open Banking ecosystem must be guided by the same set of principles. The Open Banking Implementation Entity (<a href="/glossarycollection/open-banking-implementation-entity" style="color:#48277C;" target="_blank" title="Open Banking Implementation Entity"><u>OBIE</u></a>) defines these as:<br/><br/>

- Informed decision making: customer journeys must be intuitive and information must be easily assimilated in order to ensure informed customer decision making.<br/><br/>

- Simple and easy navigation: there must be no unnecessary steps, delay or friction in the customer journey.<br/><br/>

- Parity of Experience: the experience available to a Payment Service User (<a href="/glossarycollection/payment-service-user" style="color:#48277C;" target="_blank" title="Payment Service User"><u>PSU</u></a>) when authenticating a journey via a Third-Party Provider (<a href="/glossarycollection/third-party-provider" style="color:#48277C;" target="_blank" title="Third-Party Provider"><u>TPP</u></a>) should involve no more steps, delay or friction in the customer journey than the equivalent experience they have when interacting directly with their Account Servicing Payment Services Provider (<a href="/glossarycollection/account-servicing-payment-service-provider" style="color:#48277C;" target="_blank" title="Account Servicing Payment Services Provider"><u>ASPSP</u></a>).<br/><br/>

- Familiarity and trust: the customer must only need to use the login credentials provided by the ASPSP.<br/><br/>

The final point is contentious. Should Open Banking always use the banks authentication mechanism? You can explore further in our FAQs around 'Delegated Authentication'.

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