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The FCA announced changes to the open banking identification requirements aimed at limiting the risk of disruption to open banking services after Brexit. In policy statement PS20/13, Amendments to the open banking identification requirements (eIDAS
certificates), the FCA says it will permit UK-based third-party providers (TPPs) to use an alternative to eIDAS certificates to access customer account information from account providers, or initiate payments, after Brexit. The FCA says firms
must act to ensure they can continue to provide open banking services.
Sources: FCA announces changes to open banking identification requirements and
OBIE response to the FCA’s report on eIDAS consultation.
The FCA confirmed
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