Open Banking Ecosystem
GeneralDefinition
The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking. This includes the API Standards, the governance, systems, processes, security and procedures used to support participants. It encompasses banks, TPPs, regulators, and technical service providers.
Related Terms
Open Banking
Open Banking is the practice of banks and other account providers exposing customer account and paym...
TPP
Third Party ProviderThird Party Providers are organisations or natural persons that use APIs developed to Standards to a...
ASPSP
Account Servicing Payment Service ProviderAccount Servicing Payment Service Providers provide and maintain payment accounts for payers as defi...
Frequently Asked Questions
What is Open Banking Ecosystem?
The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking. This includes the API Standards, the governance, systems, processes, security and procedures used to support participants. It encompasses banks, TPPs, regulators, and technical service providers.
What does Open Banking Ecosystem stand for in Open Banking?
Open Banking Ecosystem is a key term in the Open Banking ecosystem. The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking. This includes the API Standards, the governance, systems, processes, security and procedures used to support participants. It encompasses banks, TPPs, regulators, and technical service providers.
How does Open Banking Ecosystem relate to Open Banking?
Open Banking Ecosystem is a key concept in the Open Banking ecosystem, falling under the General category. The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking. This includes the API Standards, the governance, systems, processes, security and procedures used to support participants. It encompasses banks, TPPs, regulators, and technical service providers.
More General Terms
Embedded Banking
Embedded banking is the integration of banking services—such as accounts, payments, and cards—into n...
Embedded Finance
Embedded finance is the integration of financial services—payments, banking, lending, insurance, car...
Open Banking Services
The Open Banking services provided by Open Banking Limited to Participants, including but not limite...
Open Finance
Open Finance is the extension of Open Banking-like data sharing and third party access to a wider ra...
Participant
An API Provider, API User, ASPSP, or TPP that currently participates in the Open Banking Ecosystem. ...
PSU
Payment Services UserA Payment Services User is a natural or legal person making use of a payment service as a payee, pay...
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