openFinance API Framework

With the aim to leverage the NextGenPSD2 API Framework technology and infrastructure investments, openFinance will allow banks and TPPs to offer enhanced services, products and information that will benefit market participants and will further improve customer experiences. Berlin Group openFinance adds standardised extensions beyond the regulatory PSD2 scope that enable bank customers (consumer or corporate account owners), directly or via a Third Party Provider (TPP), to access bank accounts for commercial premium services and enriched data.
 

By expanding the access of customers’ financial data to broader data sources and additional account types, enhanced views on customers’ finances are offered which will empower bank customers to actively choose the best value products and services they need. openFinance will improve the basic credit transfer with additional functionalities (e.g. flexible execution and document handling) and enables the creation of other new payment and credit services. The openFinance services will attune to the ambitions of the European Commission’s Retail Payments Strategy and to any relevant future scheme definition.

Please have a look at the General Introduction Brochure with further details on Berlin Group openFinance.

LATEST NEWS (19 April 2021): On 19 April 2021 the public market consultation for the new openFinance Pay by Loan Service has started. The market consultation closes on 28 May 2021 COB. In addition, the AIS for Savings and Loans Accounts has been published as an extended service to the NextGenPSD2 Framework.

(please find archived items below at More information - Schedule of Events)

About the openFinance Taskforce

Supported Services


The following services have currently been defined in the openFinance Workplan 2021:
Account Information extensions:

  • Basic AIS Service (PSD2)
  • Account Entry Push Notifications
  • Extended Consent Management (GDPR)
  • Additional Account Types: e.g. Savings, Loans, Securities
Payment extensions:
  • Basic Payments (PSD2)
  • Reservation of Funds
  • Deferred Payments
  • Request to Pay
  • Pay by Loan (integrated Consumer Loans)
  • SEPA Direct Debit eMandates
  • Integrated ID Data service
Trade extensions:
  • Loan business
  • Securities business (list of stocks, certificates, …)
API Management:
  • Discovery API (Bank Parameter)
  • Client Parameter API
Administration and Registration services:
  • Pricelist API
  • Digital Contract API




Key Characteristics


The openFinance API Framework offers a modern, open, harmonised and interoperable set of Application Programming Interfaces (APIs) as the safest and most efficient way to provide data securely, enabling European banking customers to benefit from innovative products and services (‘Banking as a Service’) by granting TPPs safe and secure (authenticated and authorised) access to their bank accounts and financial data.

  • Modern “RESTful” API set using HTTP/1.1 with TLS 1.2 (or higher) as transport protocol
  • TPP identification by ETSI-defined eIDAS certificates: QWACS mandated (easy measure to protect e.g. against DDOS attacks), QSEALS optional for banks (TPP follows instruction by bank)
  • Building on all NextGenPSD2 AIS, PIS and CoF use cases
  • Third Party Provider access beyond PSD2
  • GDPR compliant consent model beyond PSD2
  • Support of Direct Access for PSUs / Corporates
  • eCommerce support
  • Discovery service to obtain the specific implementation details
  • Multilevel SCA/Corporate Banking support





About the openFinance Framework

Supported Services


The following services have currently been defined in the openFinance Workplan 2021:
Account Information extensions:

  • Basic AIS Service (PSD2)
  • Account Entry Push Notifications
  • Extended Consent Management (GDPR)
  • Additional Account Types: e.g. Savings, Loans, Securities
Payment extensions:
  • Basic Payments (PSD2)
  • Reservation of Funds
  • Deferred Payments
  • Request to Pay
  • Pay by Loan (integrated Consumer Loans)
  • SEPA Direct Debit eMandates
  • Integrated ID Data service
Trade extensions:
  • Loan business
  • Securities business (list of stocks, certificates, …)
API Management:
  • Discovery API (Bank Parameter)
  • Client Parameter API
Administration and Registration services:
  • Pricelist API
  • Digital Contract API




Key Characteristics


The openFinance API Framework offers a modern, open, harmonised and interoperable set of Application Programming Interfaces (APIs) as the safest and most efficient way to provide data securely, enabling European banking customers to benefit from innovative products and services (‘Banking as a Service’) by granting TPPs safe and secure (authenticated and authorised) access to their bank accounts and financial data.

  • Modern “RESTful” API set using HTTP/1.1 with TLS 1.2 (or higher) as transport protocol
  • TPP identification by ETSI-defined eIDAS certificates: QWACS mandated (easy measure to protect e.g. against DDOS attacks), QSEALS optional for banks (TPP follows instruction by bank)
  • Building on all NextGenPSD2 AIS, PIS and CoF use cases
  • Third Party Provider access beyond PSD2
  • GDPR compliant consent model beyond PSD2
  • Support of Direct Access for PSUs / Corporates
  • eCommerce support
  • Discovery service to obtain the specific implementation details
  • Multilevel SCA/Corporate Banking support





About the openFinance Advisory Group & Board

Participants & Structure


The above participants of the openFinance Advisory Group & Board represent the market demand-side (i.e. Third Party Providers, FinTechs / IT Solution Providers, Merchants / Retailers / Corporates / SMEs, Consumers, Consultancies and Industry Associations). The current openFinance Advisory Board and Co-Chairs have been elected and confirmed with their term ending on 18 September 2021. Elected Co-Chairs:

  • Bruno Cambounet (Sopra)
  • Ralf Ohlhausen (ETPPA, PPRO, Tink)
The openFinance Advisory Board consists of a maximum of 20 members, including the Co-Chairs, representing the openFinance Advisory Group stakeholder groups. The stakeholder groups and elected members are as follows:
  • Market demand-side:
    • Registered TPPs: 3 member representatives
      Deepak Monga (Reflow)
      Ralf Ohlhausen (ETPPA, PPRO, Tink)
      Sebastian Tiesler (Figo)
    • FinTechs/IT Solution Providers: 3 member representatives
      Bruno Cambounet (Sopra)
      Francis Pouatcha (Adorsys)
      Oliver Dlugosch (NDGIT)
    • Merchants/Retailers/Corporates/SMEs: 3 member representatives
      Steffen Weiss (DATEV)
      2 vacant seats
    • Consumer organisations: 1 member representative
      1 vacant seat
    • Industry Associations/Consultancies: 4 member representatives
      Alain Martin (FIDO)
      Gavin Littlejohn (FDATA)
      Hakan Eroglu (Accenture)

      1 vacant seat
  • Market supply-side Observers:
    • 3 members, designated by the openFinance Taskforce
      Varying composition
    • Regulatory Observers: 3 (1 from the European Banking Authority, 1 from the European Central Bank, 1 from the European Commission), designated by their corresponding organisations
      3 vacant seats

Background & Context


Berlin Group openFinance is interested in further engagement with market participants in order to involve broader market interests as well. To this end, the former NextGenPSD2 Advisory Group & Board, as a balanced multi-stakeholder representation from the market demand-side, decided to migrate to openFinance as well. Since 1 March 2021 the openFinance Advisory Group & Board has been formally established.
The openFinance Advisory Group & Board offer participants the opportunity to liaise, interact and engage in a 2-way dialogue on strategic, business and technical topics related to the use and evolution of the openFinance standards, ensuring up-to-date information on all openFinance activities and future specification development from inception.
The openFinance Advisory Group & Board offer every opportunity to discuss and feed input into the openFinance standards development process. As such, they offer a Forum for debate and help to foster adoption of openFinance, remove barriers, find optimisation potentials, ensure usability of openFinance for implementers, and contribute to pan-European harmonisation with improved interoperability across the entire value chain. The openFinance Advisory Group & Board operates in a solution-oriented approach. Download: Terms of Reference of the openFinance Advisory Group & Board.




Meetings & Public Deliverables


Meetings The following meetings (including the former NextGenPSD2 meetings) have been organised sofar:

  • 20180706 - Webinar Conference Call Meeting
  • 20181012 - Meeting hosted by KAL Ltd. in Edinburgh, United Kingdom
  • 20190206 - Meeting hosted by SDV / adorsys in Nürnberg, Germany
  • 20190515 - Meeting hosted by Finastra in Paris, France
  • 20190709 - Meeting hosted by Accenture in Zurich, Switzerland
  • 20190930 - Meeting hosted by adorsys in Eschborn (Frankfurt), Germany
  • 20200204 - Meeting hosted by Sopra Steria in Paris, France
Due to the 2020 Covid-19 situation, follow-on meetings have been scheduled to be organised as remote web conference calls since March 2020. Public Deliverables The following Public Deliverables specific to the openFinance Advisory Group & Board have been published sofar:

How to participate?

openFinance Taskforce


Participants of the openFinance Taskforce represent the market supply-side (i.e. banks, payment/banking associations, payment schemes and interbank processors operating in SEPA), providing the openFinance APIs.
If your organisation is operating on the market supply-side and is interested in participating to the openFinance Taskforce, then please send a message to info@berlin-group.org.
For participation to the openFinance Taskforce it is not required to be a Berlin Group member: the openFinance Taskforce is open for participation to any interested and committed non-Berlin Group participant as well, because the scope of the openFinance topic might be interesting to work on also for other market supply-side participants, not necessarily only by Berlin Group members. For participants to the openFinance Taskforce, there are no further Terms of Reference restrictions or applicable fees. The only commitment asked from participants is to participate as actively as possible on a best effort basis, which allows then to influence the process and results and being informed at first hand. Participants are engaged on a voluntary basis.
As transparency to the market is a key guiding principle for an open standardisation initiative such as the Berlin Group, the website always shows the organisations that have joined as participants to the openFinance Taskforce: an updated participant list will be published each time when a new participant joins. The participant list mentions the organisation name and logo of the participants. The application as a participant only becomes final once the organisation logo has been received in a web-ready version (.PNG or .JPG file, 72 dpi) and a print-ready version (.EPS, .AI or .PDF file, 300 dpi).




openFinance Advisory Group & Board


Participants of the openFinance Advisory Group & Board represent the market demand-side (i.e. as a Registered Third Party Provider, a FinTech/IT Solution Provider, a Merchant/Retailer/Corporate/SME, a Consumer Organisation, or an Industry Association/Consultancy), consuming the openFinance APIs.
If your organisation is operating on the market demand-side and is interested in participating to the openFinance Advisory Group & Board, then please send a message to advisory@berlin-group.org (please mark a permanent exception for ‘advisory@berlin-group.org’ and ‘advisory@open-finance-api.org’ in your SPAM-filters in order to ensure proper reception of messages).
The openFinance Advisory Group & Board is open for participation to any interested and committed market demand-side participant. Composition of the openFinance Advisory Group & Board needs to be balanced amongst the different stakeholders, in order to ensure

  • balanced and fair market representation without exclusive domination or guidance in standards development
  • due decision-making in broad consensus with equity and fairness among participants
For participants to the openFinance Advisory Group & Board, there are no applicable fees. The only commitment asked from participants is to participate as actively as possible on a best effort basis, which allows then to influence the process and results and being informed at first hand. Participants are engaged on a voluntary basis.
As transparency to the market is a key guiding principle for an open standardisation initiative such as the Berlin Group, the website always shows the organisations that have joined as participants to the openFinance Advisory Group & Board: an updated participant list will be published each time when a new participant joins. The participant list mentions the organisation name and logo of the participants. The application as a participant only becomes final once the organisation logo has been received in a web-ready version (.PNG or .JPG file, 72 dpi) and a print-ready version (.EPS, .AI or .PDF file, 300 dpi).





More information

Participants & Structure


The above participants of the openFinance Advisory Group & Board represent the market demand-side (i.e. Third Party Providers, FinTechs / IT Solution Providers, Merchants / Retailers / Corporates / SMEs, Consumers, Consultancies and Industry Associations). The current openFinance Advisory Board and Co-Chairs have been elected and confirmed with their term ending on 18 September 2021. Elected Co-Chairs:

  • Bruno Cambounet (Sopra)
  • Ralf Ohlhausen (ETPPA, PPRO, Tink)
The openFinance Advisory Board consists of a maximum of 20 members, including the Co-Chairs, representing the openFinance Advisory Group stakeholder groups. The stakeholder groups and elected members are as follows:
  • Market demand-side:
    • Registered TPPs: 3 member representatives
      Deepak Monga (Reflow)
      Ralf Ohlhausen (ETPPA, PPRO, Tink)
      Sebastian Tiesler (Figo)
    • FinTechs/IT Solution Providers: 3 member representatives
      Bruno Cambounet (Sopra)
      Francis Pouatcha (Adorsys)
      Oliver Dlugosch (NDGIT)
    • Merchants/Retailers/Corporates/SMEs: 3 member representatives
      Steffen Weiss (DATEV)
      2 vacant seats
    • Consumer organisations: 1 member representative
      1 vacant seat
    • Industry Associations/Consultancies: 4 member representatives
      Alain Martin (FIDO)
      Gavin Littlejohn (FDATA)
      Hakan Eroglu (Accenture)

      1 vacant seat
  • Market supply-side Observers:
    • 3 members, designated by the openFinance Taskforce
      Varying composition
    • Regulatory Observers: 3 (1 from the European Banking Authority, 1 from the European Central Bank, 1 from the European Commission), designated by their corresponding organisations
      3 vacant seats

Background & Context


Berlin Group openFinance is interested in further engagement with market participants in order to involve broader market interests as well. To this end, the former NextGenPSD2 Advisory Group & Board, as a balanced multi-stakeholder representation from the market demand-side, decided to migrate to openFinance as well. Since 1 March 2021 the openFinance Advisory Group & Board has been formally established.
The openFinance Advisory Group & Board offer participants the opportunity to liaise, interact and engage in a 2-way dialogue on strategic, business and technical topics related to the use and evolution of the openFinance standards, ensuring up-to-date information on all openFinance activities and future specification development from inception.
The openFinance Advisory Group & Board offer every opportunity to discuss and feed input into the openFinance standards development process. As such, they offer a Forum for debate and help to foster adoption of openFinance, remove barriers, find optimisation potentials, ensure usability of openFinance for implementers, and contribute to pan-European harmonisation with improved interoperability across the entire value chain. The openFinance Advisory Group & Board operates in a solution-oriented approach. Download: Terms of Reference of the openFinance Advisory Group & Board.




Meetings & Public Deliverables


Meetings The following meetings (including the former NextGenPSD2 meetings) have been organised sofar:

  • 20180706 - Webinar Conference Call Meeting
  • 20181012 - Meeting hosted by KAL Ltd. in Edinburgh, United Kingdom
  • 20190206 - Meeting hosted by SDV / adorsys in Nürnberg, Germany
  • 20190515 - Meeting hosted by Finastra in Paris, France
  • 20190709 - Meeting hosted by Accenture in Zurich, Switzerland
  • 20190930 - Meeting hosted by adorsys in Eschborn (Frankfurt), Germany
  • 20200204 - Meeting hosted by Sopra Steria in Paris, France
Due to the 2020 Covid-19 situation, follow-on meetings have been scheduled to be organised as remote web conference calls since March 2020. Public Deliverables The following Public Deliverables specific to the openFinance Advisory Group & Board have been published sofar: