Insight & Analysis

Press release: Open Banking Europe publishes draft Open Banking API Signature Standard

Published: May 2020

30th April 2020Open Banking Europe (OBE) has published its JSON Web Signature Profile for Open Banking for industry review.

Newspaper press release

The publication of this draft standard is aimed at addressing concerns about standardisation and security in signing Open Banking APIs and at aligning European APIs onto one security model.

The work on this standard has been led by OBE and ETSI and has brought together experts from the different PSD2 API Communities – Berlin Group, STET, SIBS (Portugal), Czech Open Banking, UK Open Banking, Polish Bank Association, Team Digitale (Italy), Consorzio CBI (Customer to Business Interaction – Italy), Borica (Bulgaria), Slovak Banking Association – with experts on signature formats from ETSI.

The profile is geared at meeting the requirements of the ETSI “JAdES” specification, which is currently under development for advanced electronic signatures and seals in line with the EU eIDAS Regulation.

The deliverable of this joint effort orchestrated by OBE and ETSI is now made public for industry review and feedback as well as further consultation with relevant standardisation agencies.

“With this work, we are pleased to continue the mission of Open Banking Europe to describe and standardise Open Banking practices in Europe following the implementation of PSD2,” said John Broxis, Managing Director of PRETA/Open Banking Europe.

“This standard is a great step forward in harmonising signing solutions. It builds directly on the IETF JSON Web Signature, takes advantage of ETSI’s experience in working on signature formats for two decades, and brings together the existing approaches of the PSD2 API communities into a single approach”, said Nick Pope, Vice-Chair of ETSI TC on Electronic Signatures and Infrastructures.

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