The FUTURE OF OPEN BANKING – Strategic working group

The Future Development of Open Banking in the UK

The final report from the Strategic Working Group (SWG) process, The Future Development of Open Banking in the UK, is the output of the strategy sprints held last year to enable the industry and stakeholders to input into the vision for the future of open banking.

Download the report
The Future Development of Open Banking in the UK - Final report for the Joint Regulatory Oversight Committee

Objectives of the Strategic Working Group

  1. Collating views and input from industry and broader stakeholders into the vision and strategic roadmap for further development of open banking. This includes consideration of the priority areas outlined in the Joint Regulatory Statement:
    • Unlocking the potential of open banking payments such as through account-to-account retail transactions.  
    • Enabling end-users to share data and manage access with trusted third parties.  
    • Developing further data sharing propositions, including for consumer protection. 
  2. Provide the Committee with stakeholders’ views on the priorities, long-term governance, and funding options for the Future Entity, to ensure it is set up, resourced, and funded on a sustainable and equitable basis for the future. (The Future Entity is the term used to refer to an appropriate successor to the Open Banking Implementation Entity).
  3. Advising the Committee on what activities should be taken by the Future Entity and whether activities should be taken forward by organisations other than the Future Entity to achieve the desired objectives. 
  4. Address any other requests the Committee might have.

How the SWG will operate to collate views and collect empirical evidence


There will be a series of virtual thematic ‘strategy sprints’ focusing on three key areas identified by the Committee:

i.    Unlocking the potential of open banking payments 
ii.   Promoting further data sharing in an open banking framework  
iii.  Ensuring a sustainable open banking ecosystem.

Open Banking Strategy Sprints

Each strategy sprint will take place over the course of three weeks. The members of the SWG are expected to contribute to the Open Banking Ecosystem Strategy Sprint, which will be focusing on ecosystem-wide questions as determined by the Committee. Two Expert Panels will be set up to execute the Open Banking Payments Strategy Sprint and the Open Banking Data Strategy Sprint.

For each strategy sprint, a one-hour kick-off session will be organised to allow contributors to pose any clarifying questions directly to the representatives of the Committee.

During the strategy sprint, to answer the set of questions posed by the Committee, the members of the SWG and Expert Panels are expected to produce written, and preferably evidence-based, submissions to inform the agenda for a two-hour sprint discussion session, and feed into the SWG’s interim and final reports to the Committee.  There are expected to be a total of two rounds of strategy sprints in each of the thematic areas over the course of the next few months.

We also welcome written and evidence-based submissions from all interested stakeholders. Contributors can submit evidence via email at SWGSecretariat@openbanking.org.uk during the sprint cycles set out below.  You can also find details of the questions posed by the Committee in the relevant sections below.

Please note:

· Written submissions will not be published but will be collated and/or aggregated to form the evidence base of both the interim and final SWG report. Submissions are assumed to be anonymous unless the contributor requests otherwise.

· Written submissions will be used to set the agenda for the Strategic Sprint Discussion meeting.  (Debating areas of difference will drive more insight than debating areas of consensus).

· Minutes from the Strategic Sprint Discussion meeting will be published but comments will not be attributable to any individual firm.

· All meetings will take place in the UK time zone (either BST or GMT)

SPRINT MEETINGS

SWG and expert panels


Call for evidence

The Chair of the SWG welcomes comments and empirical evidence from all stakeholders and interested parties within the broader open banking ecosystem. 

In addition to the series of strategy sprints outlined above, you can submit written responses to the Committee’s questions to swgsecretariat@openbanking.org.uk using the General Written Submission Template below. You can answer questions from any sections.

The Chair and the SWG Secretariat will review all written submissions. 

Key dates

Public SWG Information Event: 14:00 – 15:00 on Thursday, 21st of September 2022

Public SWG Information Event: 12:00 – 13:00 on Thursday, 10th of  November 2022 – click here to request an invite

Deadline for General Written responses: close of business on Friday, 25th November 2022

Document library

  • Download | SWG Terms of reference (TOR)
  • Download | Questions set by the Committee for Strategy Sprint 1
  • Download | Questions set by the Committee for Strategy Sprint 2
  • Download | General Written Submission Template
  • Download | SWG & Expert Panel Participants
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Payments strategy sprint

Sprint Timeline:
Week 1
Kick-off meeting will take place on Friday week 1. (60 mins) Representatives of the Committee will answer any questions raised.
Participants can submit evidence at any point during week 1.

Week 2
Participants can submit evidence at any point during week 2.

Week 3
Participants can submit evidence until until close of business on Wednesday week 3. 
Strategy sprint discussion meeting will take place on Friday of week 3.  (120 mins)

Document Library:

  • Download | Questions set by the Committee for Strategy Sprint 1
  • Download | Questions set by the Committee for Strategy Sprint 2
  • Download | Written submission template – submission deadline close of business  Wednesday 9th November
  • Download | Sprint 1 discussion session meeting minutes – Friday 23 September
  • Download | Sprint 2 discussion session meeting minutes – Friday 11 November
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Data strategy sprint

Sprint Timeline:

Week 1
Kick-off meeting will take place on Monday week 1. (60 mins) 
Representatives of the Committee will answer any questions raised.
Participants can submit evidence at any point during week 1. 

Week 2
Participants can submit evidence at any point during week 2.

Week 3
Participants can submit evidence until noon on Wednesday week 3.   
Strategy sprint discussion meeting will take place on Friday of week 3.  (120 mins)

Document Library:

  • Download | Questions set by the Committee for Strategy Sprint 1
  • Download | Questions set by the Committee for Strategy Sprint 2
  • Download | Written submission template – submission deadline noon Wednesday 16th November
  • Download | Sprint 1 discussion session meeting minutes – 30 September
  • Download | Sprint 2 discussion session meeting minutes – 18 November
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SWG Ecosystem strategy sprint

Sprint Timeline:

Week 1
Kick-off meeting will take place on Monday week 1. (60 mins) 
Representatives of the Committee will answer any questions raised.
Participants can submit evidence at any point during week 1. 

Week 2
Participants can submit evidence at any point during week 2.

Week 3
Participants can submit evidence until noon on Wednesday week 3.   
Strategy sprint discussion meeting will take place on Friday of week 3.  (120 mins) 

Document Library:

  • Download | SWG Terms of reference (TOR)
  • Download | Questions set by the Committee for Strategy Sprint 1
  • Download | Questions set by the Committee for Strategy Sprint 2
  • Download | Written submission template – submission deadline noon Wednesday 23rd November
  • Download | Sprint 1 discussion session meeting minutes – 7th of October 2022
  • Download | Sprint 2 discussion session meeting minutes – 25th of November 2022
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Contact us

If you have any questions or would like to make a written submission to the SWG (answering any or all of the questions set by the Committee during the strategy sprint cycle) please email us.  

You’ll be able to watch a video of the SWG information session soon.

Email us
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