The Open Banking Implementation Entity (OBIE) has published a new set of guidelines for firms utilising the data-sharing initiative.
The independent organisation that was set up to implement open banking said that the new standards now include features to help ecosystem participants further improve their open banking products and services.
OBIE said many of the changes have been made in response to feedback from participants, including updates to customer experience guidelines, the read/write API specification and the introduction of guidelines for third-party providers.
The third party-providers will now sit as a standalone section in the Open Banking Standard and will no longer be housed within operational guidelines.
OBlE has launched a new set of best practice guidelines for updated guidance on data handling and consent management covering the end-to-end customer journey for third party-providers and other participants.
This replaces prior or existing content on data ethics and data privacy.
Earlier this month, Charlotte Crosswell vowed to improve the workplace culture and corporate governance at OBIE since becoming chair, following Imran Gulamhuseinwala’s exit amidst allegations of bullying at the organisation.