What is Open Banking Limited?
Written by Team Yapily · December 12th, 2019
List of banks and their configuration guides:
- AIB Group (UK) plc, also trading as First Trust Bank in Northern Ireland
- Bank of Ireland (UK) plc
- Barclays Bank plc
Lloyds Banking Group plc
- Nationwide Building Society
- Northern Bank Limited, trading as Danske Bank
The Royal Bank of Scotland Group plc
- Santander UK plc (in Great Britain and Northern Ireland)
- 🌐 Open Data - Read access to banks' product information
- 🔒 Account Information - Read access to authorised users' account information
- 🔒 Payment Initiation - Write access to initiate payment on authorised users' behalves
Currently, if you wish to connect to user-authorised bank accounts belonging to Open Banking UK institutions, you will need to enrol onto the Open Banking Directory.
Open Banking Enrolment Guide:
To access Open Banking institutions using the Yapily API there are some requirements:
- Your entity must be FCA regulated: https://www.fca.org.uk/firms/authorisation/how-to-apply
- Enrol in the Open Banking Directory as an AISP/PISP: https://directory.openbanking.org.uk/s/login/SelfRegister
- Nominate Yapily as your technical contact when enrolling with Open Banking. Yapily will handle the technical requirements to provide authorisation flows and to facilitate subsequent API calls
The directory issues credentials that institutions will use to verify your application. Once you have registered and successfully generated a software statement assertion (SSA), you can use these to configure Open Banking institutions for your Yapily application. The exact credentials required for the institution that you are interested in will be displayed in the institution configuration window. Refer to the configuration guide for details on setting up each institution.