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Open Banking – pioneers wanted

13 February 2019

Open Banking – pioneers wanted

 
Arron Latham,
Open Banking,
Vocalink

As the Open Banking ecosystem grows, problems will inevitably arise that require resolution. At the moment, there is uncertainty about how these problems will be dealt with, such as:

  • What will happen in the event of unauthorised payments, incomplete data received, or poor API performance?
  • How will you bring forward a case or respond to a case made against you? 
  • What supporting documentation will you need to provide? 
  • Against which rules framework will disputes or enquiries be resolved? With which party does responsibility rest?
  • What happens next? 

Leveraging Mastercard’s expertise handling disputes in today’s payments industry, we are developing a centralised enquiry and dispute resolution to ensure clarity, consistency and transparency for all parties involved in Open Banking queries and disputes. We’re currently inviting financial institutions and third-party providers to help build a cross-industry consensus on the rules framework that governs our solution.

If you are interested in taking part, email openbanking@mastercard.com with your name, company, job title and phone number.

We look forward to collaborating with you. Together, we can create a safe, secure environment for the Open Banking industry to evolve — and to thrive.

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