Consumers

SME

Corporates

(TBC)

BNK-AC-REQ-1

Identify LFI for Account Opening

TPPs MUST:

1.1 Provide Users with the list of available LFIs available for dynamic account opening and allow Users to select the LFI they want to open a new account with.

• Note: This is irrespective of TPPs having contractual relationships with the selected LFI or not.

1.2 Use the name of the LFI selected by the User based on the received FX services quote, if this journey is a continuation of the https://openfinanceuae.atlassian.net/wiki/x/UwB2Eg journey.

BNK-AC-REQ-2

Data Sharing Consent for Account Initiation Purposes (Conditional)

TPPs MUST:

2.1 Enable Users to provide the name of one of their existing LFIs which can be used to provide the User’s Customers personal data required for generating the Account Opening service initiation requests.

2.2 Request Users to provide their explicit consent to TPPs to receive their customer personal data required for dynamic account opening from their existing account holding LFIs.

• 2.2.1 Use the data sharing consent requesting only the data clusters relevant to the initiation of the dynamic account opening process for the selected LFI. Thus, TPPs MUST request Users to consent and authorize the sharing of the following data clusters:

  • “Your Account Details”

  • “Contact and Party Details”

• 2.2.2 Clearly identify to Users that the purpose of the data sharing consent is for the account open service initiation. TPPs MUST only use the data sharing consent requesting the customer personal data for the purpose of account opening.

• 2.2.3 Set the consent duration for this purpose to be short-lived (24 hours period or less)

2.3 Enable Users to proceed with the Data Sharing customer journey as per the user journey https://openfinanceuae.atlassian.net/wiki/spaces/standardsv2draft2/pages/304550037/Customer+Data#3.-Customer-Experience and the requirements defined in https://openfinanceuae.atlassian.net/wiki/spaces/standardsv2draft2/pages/304550037/Customer+Data#3.1-Rules-%26-Guidelines .

BNK-AC-REQ-3

Data Sharing Requests for Account Initiation Purposes (Conditional

TPPs MUST:

3.1 Use the data sharing consent to request and retrieve Users' s customer personal data for dynamic account opening purposes as per the requirements defined in https://openfinanceuae.atlassian.net/wiki/spaces/standardsv2draft2/pages/304550037/Customer+Data#3.1-Rules-%26-Guidelines.

BNK-AC-REQ-4

Manual Data Entry for Account Initiation Purposes (Conditional)

TPPs MUST:

4.1 Request Users to manually provide the data required for the Account Opening service initiation requests in the following cases:

• 4.1.1 When the Account Opening service initiation require more data than the data set which provided to TPPs by the LFI using the data sharing activity. In this case, TPPs MUST ask Users to provide the missing information to enable the Account Opening service initiation requests to proceed.

• 4.1.2 When Users have not provided data sharing consent to the TPP to retrieve their customer personal data from an existing account holding LFI (TBC)

• 4.1.3 When Users have not provided to the TPP the information of an existing account holding LFI (for example in the case of not having any accounts with any LFIs) (TBC)

BNK-AC-REQ-5

Data Review/Edit & User Confirmation

TPPs MUST:

5.1 Allow Users to review the data collected by the TPP that will be used in the Account Opening service initiation requests to the selected LFIs.

5.2 Enable Users to edit the data elements they wish in order to manually correct erroneous data and other data inconsistencies.

5.3 Enable Users to confirm that they are happy to proceed to the Account Opening initiation process, using the data presented by the TPPs.

5.4 Include in the Account Opening service request, the following additional information about each field of the Users' customer personal data:

• Which data fields have been manually provided by Users (not included in the data sharing from existing account holding LFIs

• Which data fields have been manually updated by Users. This data were provided by the data sharing from existing LFIs but was changed by Users. In this case, the original value of the updated data field MUST also be included.

BNK-AC-REQ-6

Account Opening Initiation Requests

TPPs MUST:

6.1 Initiate the Account Opening service initiation requests to the selected LFIs using the Open Finance Platform (OFP).

6.2 Submit to OFP the Account Opening service initiation requests with the Users' customer personal data they received using the data sharing functionality, or provided by Users manually. All data MUST have been confirmed by Users.

6.3 Each Account Opening service initiation request will contain the information as stated in https://openfinanceuae.atlassian.net/wiki/spaces/standardsv2draft2/pages/309788673/Dynamic+Account+Opening#4.1-Account-Opening-Service-Initiation-Data.

6.4 Be able, as part of the Account Opening service initiation requests, to register a callback API endpoint (i.e. webhook). This will be used by the LFI to asynchronously notify the OFP and the TPP that the new user account has been opened with the LFI as per the service initiation request.

OFP MUST:

6.5 Allow the TPPs to submit each individual Account Opening service initiation request without any additional MFA or authorization from the User.

6.6 Forward the Account Opening service initiation request to the selected LFI together with the users' customer personal data required for the new account opening process.

6.7 NOT store any Users' customer personal data included in the Account Opening service initiation requests. The data will only be transferred by the TPPs to the LFIs.

BNK-AC-REQ-7

Account Opening Staging

LFIs MUST:

7.1 Be able to receive the Account Opening service initiation requests and use the provided Users' customer personal data to initiate their account opening process in near-real-time (and not-real-time in certain scenarios).

7.2 Respond to the Account Opening service initiation requests by sending their response messages back to the OFP.

7.3 Include in the Account Opening service initiation responses the redirection information that TPP MUST use for redirecting Users to the LFIs.

OFP MUST

7.4 Forward the Account Opening service initiation responses back to the initiating TPPs.

BNK-AC-REQ-8

Hand-off to LFI

TPPs MUST:

8.1 Provide messaging to inform Users that they will be redirected to the LFIs to complete the account opening process.

• 8.1.1 Example wording to use: ‘We will securely transfer to YOUR LFI to authorize and make the payment“.

8.2 Redirect the Users to the LFIs' web interface or the LFIs' app if available (download maybe required first) in order to continue with the he account opening process.

LFIs MUST:

8.3 NOT present any additional inbound redirection screens.

8.4 Request the details included in the staged Account Opening resource from the OFP

OFP MUST:

8.5 Provide the Account Opening details to the LFIs based on the unique Account Opening resource identifier.

LFIs MUST:

8.6 Initiate the Account Opening and Onboarding process.

BNK-AC-REQ-9

Account Opening process

LFIs MUST:

9.1 Present to Users a user registration page (for web) or screen (for app) which will contain the Users' customer personal data received by the TPP as part of the Account Opening service initiation request.

9.2 Request Users to review and confirm their details are correct.

• 9.2.1 Allow Users to modify the data, if they think appropriate (e.g. to correct erroneous data provided).

• 9.2.2 Request Users to manually provide any information required for the Account Opening process which is missing from the customer personal data received by the TPP as part of the Account Opening service initiation request. Users MUST review and confirm their details are correct.

9.3 Verify the Users' provided contact details including mobile phone number and email address.

9.4 Request Users to provide electronic copies of their User identity information such as the Emirates ID or passport. This may be by taking photos of an existing paper document or uploading an electronic version of the document. This may be required if these have not already been included in the data provided by the Account Opening service initiation request.

9.5 Request users to provide biometric details that can be matched against the provided identity documents. The most common biometrics used is facial biometrics using a photo or video for facial recognition and matching against the Emirates ID or passport.

9.6 Request Users to provide the following additional information:

• 9.6.1 Financial and Banking Details, including:

  • Source of Funds (salary, savings, inheritance, business income, etc.)

  • Expected Transaction Volume (monthly/annual expected transfers and currency usage)

• 9.6.2 Compliance & Declaration Forms

  • Know Your Customer (KYC) Form

  • Declaration of Purpose of Transactions

  • Consent for AML/CFT Compliance Checks

9.7 Request Users to Accept T&Cs and provide their final confirmation for the Opening of the Account.

9.8 Advise Users about the timelines for the completion of the Account Opening process.

BNK-AC-REQ-10

Hand-off back to the TPP

LFIs MUST:

10.1 Confirm to the OFP that the interaction session is now completed.

OFP MUST:

10.2 Initiate the User Redirection process by providing all necessary information to the LFI.

LFIs MUST:

10.3 Provide messaging to inform Users that they will be taken back to their TPP.

10.4 4 Redirect Users to the TPP immediately after receiving the required information from the OFP.

BNK-AC-REQ-11

Account Opening Status Update

LFIs MUST:

11.1 Set the status of the New Account resource to “Opened”

11.2 Send an Account Open Confirmation notification to the OFP using the registered callback API endpoint (i.e. webhook).

.11.3 Include in the Account Open Confirmation notifications the information as per https://openfinanceuae.atlassian.net/wiki/spaces/standardsv2draft2/pages/309788673/Dynamic+Account+Opening#4.2-Account-Open-Confirmation-Data.

OFP MUST:

11.3 Forward the Account Open Confirmation notifications to the TPP including all the information provided by the LFIs.

11.4 NOT storing any Users' Account Open confirmation data included in the Open Confirmation notifications. Data will only be transferred by the OFP to the TPPs.

BNK-AC-REQ-12

Confirmation to User

TPPs MUST:

12.1 Confirm to Users the outcome of their Account Opening service initiation request with the LFI.

• 12.2 Confirm to Users using confirmation screens in line with the customer journey, for every Account Opening service initiation that Users are present.

BNK-AC-REQ-13

User Notifications

TPPs MUST:

13.1 Send a notification

about the outcome of the Account Opening service initiation request to Users, if they are not present at the TPP app.

LFIs MUST:

13.2 Send a notification to Users on the success or failure of the Account Opening service initiation request.

13.3 Use SMS as a minimum channel to notify Users

and optionally any other allowable channels (e.g. email, app notifications) currently used for account opening related notifications to their customers depending on UAE rules and regulations, for all Open Finance related notifications to Users.

13.4 Use the Users' verified contact details to inform them about the credentials of accessing the new account account.

13.5 Identify in the notifications the TPP initiating the the Account Opening service request.