What is the Open Banking Standard?

The Open Banking Standard is published by 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>) and helps Account Servicing Payment Services Providers (<a href="/glossarycollection/account-servicing-payment-service-provider" style="color:#48277C;" target="_blank" title="Account Servicing Payment Services Provider"><u>ASPSP</u></a>) and Third-Party Providers (<a href="/glossarycollection/third-party-provider" style="color:#48277C;" target="_blank" title="Third-Party Provider"><u>TPP</u></a>) understand their regulatory requirements when providing an Open Banking service or product.