openFinance API Framework

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With the aim to leverage the NextGenPSD2 API Framework technology and infrastructure investments, openFinance allows banks, Third Party Providers (TPPs) and other Access Clients 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 TPPs and other Access Clients, 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 many 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 (11 October 2021): On 11 October 2021, Berlin Group openFinance started a public market consultation on the detailed technical specification for additional Push Account Information Services.

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

About the openFinance Taskforce

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 (Mastercard)

      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:

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 (Mastercard)

      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?

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 (Mastercard)

      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:

More information

Schedule of Events


  • On 11 October 2021, Berlin Group openFinance started a public market consultation on the detailed technical specification for additional Push Account Information Services.
  • On 24 September 2021, Berlin Group openFinance published the first openFinance Services which integrated the feedback from the preceding public market consultation.
  • On 14 June 2021, Berlin Group openFinance published 3 additional documents for public market consultation. The market consultation on these documents closes on 26 July 2021 COB.
  • On 7 June 2021 the public market consultation for the openFinance Administrative Services has started. The market consultation closes on 26 July 2021 COB.
  • On 27 May 2021 the public market consultation for the new scheme-neutral Request to Pay Service has started. The market consultation closes on 9 July 2021 COB. In addition, the consolidated results on the March/April 2021 market consultation on the new openFinance Push Account Information Services (PAIS) and Extended Payment Initiation Services (EPIS) have been published.
  • On 19 April 2021 the AIS for Savings and Loans Accounts extension has been published. Although this has been published as an extension to the core NextGenPSD2 Framework, the Open Finance character of this service makes it especially also interesting for the openFinance community.
  • 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.
  • On 29 March 2021, the Berlin Group has published a first version of the openFinance Certification Process document, as a proposal to be further discussed with openFinance API Access Schemes when they want to consider their role in Certification and Approval. The certification process described in this paper should ensure a high quality of openFinance implementations and describes a possible certification and approval ecosystem model for the Berlin Group openFinance API Framework describing in detail the overall process for all involved roles, a detailed description of the main involved documents and a detailed description of the main processes
  • On 8 March 2021 the public market consultation for the new openFinance Push Account Information and Extended Payment Initiation Services has started. The market consultation closes on 16 April 2021 COB.
  • On 1 March 2021 the NextGenPSD2 Advisory Group & Board formally migrated to an openFinance Advisory Group & Board.
  • On 30 November 2020 the Berlin Group published the openFinance Workplan 2021.
  • On 26 October 2020 the Berlin Group published a news announcement with press release on the start of the openFinance activities.




Other Public Articles


All public articles are made available in PDF or PPSX format. Upon specific and argued request, files can be made available in MS Office formats as well.




Archive


Archived files are no longer published and can only be made available upon specific and argued request

  • 20210802 - openFinance Advisory Group & Board Participants list.pdf
    International Card Systems AD Skopje (CaSys AD) from North Macedonia and Plum Fintech LTD from the United Kingdom added as participants to the openFinance Advisory Group & Board.
  • 20210511 - openFinance Taskforce Participants list.pdf

    KIBS AD from Macedonia added as new participant to the openFinance Taskforce.
  • 20210521 - openFinance Advisory Group & Board Participants list.pdf
    Open Finance Association Europe AISBL from Belgium added as participant to the openFinance Advisory Group & Board.
  • 20210511 - openFinance Advisory Group & Board Participants list.pdf
    Enigma Business Consulting B.V. from the Netherlands added as participant to the openFinance Advisory Group & Board.
  • 20210111 - openFinance Taskforce Participants list.pdf

    Aareal First Financial Solutions AG from Germany and the Banking Association of Georgia from Georgia added as new participants to the openFinance Taskforce.
  • 20210420 - openFinance Advisory Group & Board Participants list.pdf
    Cloudentity Inc from the United States, PricewaterhouseCoopers and Utego from Italy added as participants to the openFinance Advisory Group & Board.
  • 20210329 - openFinance Advisory Group & Board Participants list.pdf
    FlowPay S.r.l. from Italy and Debito Ltd (Banksly) from the United Kingdom added as participants to the openFinance Advisory Group & Board.
  • 20210304 - openFinance Advisory Group & Board Participants list.pdf
    In addition to all previous NextGenPSD2 Advisory Group participants, Fabrick S.p.A. from Italy, LUXHUB SA from Luxemburg and Salt Edge Inc. from Canada have been added as participants to the openFinance Advisory Group & Board.
  • 20201013 - openFinance Taskforce Participants list.pdf