What is Open Banking?
Open Banking is a UK Government initiative to remove the technical barriers that stop your accounts from working better together when they’re held with different banks and providers. By safely sharing your account information, it makes it possible for financial technology providers, banks, online retailers and other companies to create innovative new apps, services and products that can help save you time and money.
The Open Banking initiative is being led by the UK's Competition and Markets Authority (CMA) in collaboration banks, consumer groups, online retailers and financial technology (fintech) providers. For more information visit here
Open Banking FAQs
Am I automatically opted in to Open Banking?
No. You’ll only use Open Banking if you give permission to a regulated app or website. It’s always your choice – you need to give your explicit consent.
How do I sign-up for Open Banking?
To sign up for Open Banking you will need to give initial consent using a third party site. You can then select which Third Party you wish to give consent to. You will need to provide separate consents for every third party you use. You will be directed to Jordan International bans Internet Banking portal to confirm what accounts information you wish to give access to.
How long will consent last for?
When you authorise a third party to access your account data, you can choose what data they see for 90 days.
You can stop a 90-day share at any time.
In Open Banking what is a Third Party Provider?
A Third Party Provider could be any company that wants to offer you a service, and therefore needs your transaction history to do so. Third Party Providers are approved by the Financial Conduct Authority (FCA) before they can take part in Open Banking.
All approved Third Parties will appear on the Open Banking Regulated Providers Register.
I don’t want to use Open Banking
You choose which regulated apps and websites you want to use – so you’re always in charge. You decide what information they can access, and for how long. No one gets access unless you say so.
How do I stop using Open Banking?
If you have given consent to third parties then you will be required to withdraw these consents, otherwise we will continue to provide information to these third parties in line with your consent until such times as it expires after 90 days. You can withdraw this consent within your Internet banking portal by selecting the third party you wish to remove consent from and confirming.
Can I use Open Banking if I don’t use online banking?
No. To use Open Banking you need online or mobile banking for your personal or business current account.
What regulations do providers have to meet?
To use Open Banking, providers have to comply with the strict rules of the Financial Conduct Authority (FCA) or a European equivalent.
You can find out more and check if an app or website is regulated on the FCA register or European equivalent.
How do I know Open Banking is safe?
Open Banking has been designed with security at its heart – here's how:
- Bank-level security – Open Banking uses rigorously tested software and security systems. You’ll never be asked to give access to your bank login details or password to anyone other than your own bank or building society.
- It's regulated – only apps and websites regulated by the Financial Conduct Authority (or European equivalents) can use Open Banking.
- You're in charge – you choose when, and for how long, you give access to your data.
- Extra protection – your bank or building society will pay your money back if fraudulent payments are made, as long as you haven’t been grossly negligent. You're also protected by data protection laws and the Financial Ombudsman Service
Open Banking for developers
Help create new banking possibilities for our customers.
We want to make sure third-party developers can easily register their applications with us and access the standardised industry-wide Open Banking APIs (Application Programming Interfaces).
What to do before you register
Make sure you first register with the FCA or National Competent Authority of your host country and enroll with the Open Banking Directory. We can’t register an unenrolled organisation.
Getting started is easy
Jordan International Bank (JIB) has made Production APIs available on the 12th of December 2019, JIB would like to notify any TPPs that they can register through our developer gateway for access to our Sandbox and subject to successful Sandbox testing can utilise our production API services.
The Production Facility hosts v3.1 of AIS which is identical to our Sandbox APIs. It currently supports OB Certificates only and not Eidas certificates.
Please contact firstname.lastname@example.org if you have any questions on using our developer gateway or interested in engaging in a testing relationship with JIB
Once registered and accepted, you’ll be able to use our regulated Open Banking APIs in our sandbox environment. For production access, you will need to register in order to access those APIs.
If you would like to register to get access to our API store please register at our developer gateway