openFinance API Framework

Leveraging the NextGenPSD2 API Framework technology and infrastructure investments, openFinance allows 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 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 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 (30 November 2020): Publication of openFinance Workplan 2021

About the openFinance Taskforce

Do I need a lawyer?


knowledge bank is a regulatory consultancy. We are not lawyers and do not provide legal advice. If you need a lawyer, we can make a recommendation. If you already have legal counsel as part of your business team, then we can funnel all communications through counsel to allow you to maintain client-attorney privilege.




Why Knowledge Bank, I already have a regulatory person/department?


Companies run very lean and from time-to-time, staff may have too many duties and too little time to stay up-to-date. knowledge bank supports and supplements your business practices as you may require. This may include mentoring your junior regulatory team or advising the product developers when innovating healthier nutrient targets for new niches. knowledge bank focuses solely on USA labeling regulations helping you navigate information needs on packaged foods and supplements.




Who are knowledge bank customers?


knowledge bank does not disclose its client list. We provide confidential services to Private Label Owners, Contract Manufacturers, Grocery Stores, Retail Brands, Importers and Law Firms. Our clients include startups to very large ($1B+) and multi-national organizations. Rest assured with over 3,500 product labels reviewed, our clients’ brands are well represented throughout the grocery store.




Will you take a partnership in our business instead of payment for services?


Although “bank” is in our name, we are not a lending institution. Our boutique business will accept check or PayPal for services. However, our 12-lb. security officer prefers kibbles in his dish each morning and night, so we cannot take sweat-equity in someone’s business.





About the openFinance Framework

Do I need a lawyer?


knowledge bank is a regulatory consultancy. We are not lawyers and do not provide legal advice. If you need a lawyer, we can make a recommendation. If you already have legal counsel as part of your business team, then we can funnel all communications through counsel to allow you to maintain client-attorney privilege.




Why Knowledge Bank, I already have a regulatory person/department?


Companies run very lean and from time-to-time, staff may have too many duties and too little time to stay up-to-date. knowledge bank supports and supplements your business practices as you may require. This may include mentoring your junior regulatory team or advising the product developers when innovating healthier nutrient targets for new niches. knowledge bank focuses solely on USA labeling regulations helping you navigate information needs on packaged foods and supplements.




Who are knowledge bank customers?


knowledge bank does not disclose its client list. We provide confidential services to Private Label Owners, Contract Manufacturers, Grocery Stores, Retail Brands, Importers and Law Firms. Our clients include startups to very large ($1B+) and multi-national organizations. Rest assured with over 3,500 product labels reviewed, our clients’ brands are well represented throughout the grocery store.




Will you take a partnership in our business instead of payment for services?


Although “bank” is in our name, we are not a lending institution. Our boutique business will accept check or PayPal for services. However, our 12-lb. security officer prefers kibbles in his dish each morning and night, so we cannot take sweat-equity in someone’s business.





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).





More information

Do I need a lawyer?


knowledge bank is a regulatory consultancy. We are not lawyers and do not provide legal advice. If you need a lawyer, we can make a recommendation. If you already have legal counsel as part of your business team, then we can funnel all communications through counsel to allow you to maintain client-attorney privilege.




Why Knowledge Bank, I already have a regulatory person/department?


Companies run very lean and from time-to-time, staff may have too many duties and too little time to stay up-to-date. knowledge bank supports and supplements your business practices as you may require. This may include mentoring your junior regulatory team or advising the product developers when innovating healthier nutrient targets for new niches. knowledge bank focuses solely on USA labeling regulations helping you navigate information needs on packaged foods and supplements.




Who are knowledge bank customers?


knowledge bank does not disclose its client list. We provide confidential services to Private Label Owners, Contract Manufacturers, Grocery Stores, Retail Brands, Importers and Law Firms. Our clients include startups to very large ($1B+) and multi-national organizations. Rest assured with over 3,500 product labels reviewed, our clients’ brands are well represented throughout the grocery store.




Will you take a partnership in our business instead of payment for services?


Although “bank” is in our name, we are not a lending institution. Our boutique business will accept check or PayPal for services. However, our 12-lb. security officer prefers kibbles in his dish each morning and night, so we cannot take sweat-equity in someone’s business.





© The Berlin Group - Disclaimer and Dataprivacy Policy