What's new?

New functionality and specifications have been added in relation to the following:

• Insurance API description that fulfils the data sharing requirements for motor insurance policies.

• Pushed Authorization Request Endpoint description that provides details of the Rich Authorization Request Schema Objects used to initiate User authentication and authorization.

• Payment Refunds functionality that facilities refund payments for Open Finance initiated payments to Merchants/Service Providers.

• Single Instant Payment | 2.2 Fast track Journey, functionality that allows a simples user journey when all payment informaiton is available at TPP

• Single Instant Payment | 3.3 Using Proxy for Beneficiaries, user journey when proxy is used for beneficiaries

• Single Instant Payment | 3.4 Using Confirmation of Payee (COP), user journey allowing confirmation of Payee when payee is defined using a bank account

• Open Finance Payment Limits added to Limits and Constants

• List of purpose codes added in Limits and Constants

• Multi-Payments | 1.5 Combined Payments (Recurring Payments with a One Time Setup)additional functionality for combined single and multi-payments in a single consent.

• Multi-Payments | 1.7 Balance Check Permission functionality to allow balance check of the paymennt account before a payment of a mutli-payment consent is initiated

What’s changed ?

Since the previous draft, the following functionality and specifications have been updated:

• Bank Data Sharing API description includes the /parties endpoint to provide details of the User as held by the LFI.

• Bank Service Initiation API description includes the Refunds endpoint and consent flag that allows debtor account details to be retrieved.

• Bank Service Initiation API description includes the Bulk/Batch payments operations that allows TPPs to submit a file of payment instructions to an LFI via the OFP.

• Bank Service Initiation API description references Aani codes rather than ISO 20022 for the property PaymentPurposeCode.

• Bank Data Sharing and Bank Service Initiation API descriptions have been amended to include a standardised prefix of “AE” for Schema Object names.

• API description pages have been renamed from “Swagger Documentation” to “OpenAPI Documentation” to provide the correct name of the API description language used.

• https://openfinanceuae.atlassian.net/wiki/spaces/standardsv1draft3/pages/70092012 has been updated to reflect that FDPs are warehoused and scheculed by LFIs

• Purpose code has been added to all payment types.

• https://openfinanceuae.atlassian.net/wiki/spaces/standardsv1draft3/pages/70092119/Multi-Payments#1.8-Using-Variable-defined-Consent-for-Single-Future-Dated-Payment-(FDP)clarification added in the Multipayments

• Bank Data Sharing description has been updated to clarify that an LFI may act as a TPP and ingest LFI data, subject to the same rules and guidelines as a TPP.

• Motor Insurance description has been updated to specify that an LFI is required to return a quote to a TPP regardless of whether there is a commercial agreement in place.

• Motor Insurance Motor Insurance Quotes | 7. Data Categories have been updated in line with responses from industry participants as to which data fields are available.

What's to come?

Future drafts will include some/all of the following functionality and specifications:

• Request to Pay.

• Confirmation of Payee API design.