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What are the Open Banking user journeys and what channels are they available on?

An absolutely critical part of the work of 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>) in the UK was to define and collectively agree upon a set of user journeys that could then be standardised so that any user of Open Banking could receive a relatively consistent experience. This work has driven much of the Open Banking thinking globally and many other countries standards have been influenced to some extent by the OBIE's work.<br/><br/>

From the OBIIE:<br/><br/>

"Customers will only use Open Banking products and services if their experience matches, or betters, expectations and if information is presented in an intuitive manner that allows them to make informed decisions. It is therefore important that the interplay between the Third-Party Provider (<a href="/glossarycollection/third-party-provider" style="color:#48277C;" target="_blank" title="Third-Party Provider"><u>TPP</u></a>) and the 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>) is as seamless as possible while providing customer control in a secure environment. In particular it is essential that customers are clearly informed about the consent they are providing and the service they are receiving."<br/><br/>

User journeys can broadly be divided into Account Information Service Provider (<a href="/glossarycollection/account-information-service-provider" style="color:#48277C;" target="_blank" title="Account Information Service Provider"><u>AISP</u></a>) journeys and Payment Initiation Services Provider (<a href="/glossarycollection/payment-initiation-services-provider" style="color:#48277C;" target="_blank" title="Payment Initiation Services Provider"><u>PISP</u></a>) journeys.

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