Open Banking

Open Banking is an innovative way for you to manage your finances to meet your lifestyle needs. Available through our online services, you can make payments directly and shop around for new products and services. Open Banking gives you financial freedom and flexibility, providing you with greater choice and control over your money and financial information, helping you manage your money easily and efficiently.

  

The Open Banking ecosystem will be used by Third Party Providers (known as ‘TPPs’), who use Application Programming Interfaces (APIs) to access customers’ accounts in order to provide account information services and/or to initiate payments.

 

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    Glossary

    Abbreviations

    Service

    Description

    AISP

    Account Information Service Provider

    An AISP gathers information from one or more of your payment accounts, even if the accounts are held with different banks, in one place.  An AISP can consolidate or aggregate your account information with your consent.

    API

    Application Programming Interface

    An API is a set of tools for apps to communicate with each other.  In open banking the APIs facilitate the exchange of data instructions safely and securely.

    ASPSP

    Account Servicing Payment Service Provider

    An ASPSP is a payment service provider (PSP) that provides and maintains a payment account for a customer. This includes banks and building societies.  AIB is an example of an ASPSP.

    CBPII

    Card Based Payment Instrument Issuer

     

    A CBPII is a third party provider that can check to see if there is money in your online payment account.  The response we give to the third party provider is a ‘Yes’ or ’No’ answer only. This type of third party provider will never have access to your account balance.

    PISP

    Payment Initiation Service Provider

    A PISP can make payments directly from your bank account instead of using a debit or credit card with your consent.

    PSP

    Payment Service Provider

    A PSP carries out regulated payment services, such as those described in this glossary.

    SCA

    Strong Customer Authentication

    SCA is a secure, digital way to confirm it’s you using your Card online. SCA is an extra layer of security for your payment account and it is sometimes called Two Factor Authentication.

    TPP

    Third Party Provider

    A TPP is an authorised or registered payment service provider (PSP). There are different types of TPPs (AISP, PISP and CBPII) which we explain in this glossary.

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    How will Open Banking help me?

    You can make payments directly from your Bank account.

    If you’re buying something online from a retailer or other provider, they may offer you the option to pay directly from your bank account using a TPP, meaning you don’t have to input your debit or credit card details.

     

    Shop around for new products and services

    Think about the last time you were shopping around for a new financial product or service.  The Open Banking system allows you to give TPPs access to view your account information to enable them to tailor a product or service to meet your needs.

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    Staying safe and secure

    We use high levels of industry standard security to ensure you can access your accounts with utmost confidence. Open Banking runs on robust technology using APIs, designed with your security foremost in mind.

     

    If you decide to use a TPP you will be redirected to a secure AIB (NI) website and asked to verify your identity by logging in. You will then authorise the sharing of your information with the TPP or make a payment via that TPP.  Find out more about how to stay safe with TPPs on our Security Centre.

     

    You will always be in control. You will decide which TPPs if any, can access your accounts, for how long and what they can do to meet your needs.   It is vitally important that you trust the TPP you are using.

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    What is a Third Party Provider (known as TPP)?

    A TPP is an authorised or registered payment service provider (PSP). There are different types of TPPs including AISPS, CBPIIs and PISPs which we explain above.TPPs are online service providers who can access your online payment accounts and/or make payments on your behalf, if you give them the permission to do so.

     

    TPPs are independent of you and your bank. You should check here whether a TPP is authorised or registered. It is important to check this to ensure your financial information is safe and secure. You can also check the Financial Conduct Authority’s website.

     

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    How do I use Third Party Providers (TPPs)?

    TPPs are independent of you and your bank.  You should check here whether a TPP is authorised or registered.  It is important to check this to ensure your financial information is safe and secure.  You can also check the Financial Conduct Authority’s website.

     

    If you allow a TPP to access your account information, to see if there is money in your account or make a payment on your behalf, you will be re-directed to a secure part of our website so that we can confirm your identity using SCA. You can check the website address on our  Security Centre. To complete this authentication step follow the instructions which appear on screen.

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    What information can I share with a Third Party Provider (TPP)?

    You can share any payment account that can be accessed through online banking services with a TPP. A payment account is an account that can be used to make payments to third parties. Examples are current accounts, credit card accounts, some deposit accounts and e-money accounts.

     

    If you have a joint or multi-party account that you use through online banking, each account holder can give a TPP access to that account information. With the permission of just one account holder, we may give a TPP access to joint/multi-party account information. It is up to the account holder who has allowed the TPP, to tell all other account holders that the third party has access.

     

    Of course, you can remove access at any stage by instructing your TPP or alternatively undertake this yourself through Online Banking or iBB.
     

     

    If you have any questions about the security of your account please phone our Customer Service team immediately on

    44 (0)345 6005 925 Mon - Fri 9.00am to 5.00pm (Excluding Bank Holidays).

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    What does ‘availability of funds’ mean?

    By granting access for a CBPII to carry out an availability of funds check on your account/accounts this will allow the CBPII access to check with us whether the account you have selected has sufficient funds to meet a specified amount. The CBPII will never see your account balance as we will only provide them with a Yes or No answer.

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    Managing my Open Banking

    If you have given consent to a TPP to access your account information, you can manage this in the following ways.  

     

    Online banking users through the 'Shared Account Management' option within their online banking.

     

    iBB users can manage TPP access through Shared Account' settings within iBB. You will be able to view a list of the TPPs to which you have provided access to, together with what information you have shared.

     

    Of course, you can remove access at any stage by instructing your TPP or alternatively undertake this yourself through Online Banking or iBB. Information on how to do this is on our Security Centre.

     

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    How long will a Third Party Provider (TPP) have access to my accounts?

    You control the access a TPP will have to your accounts. Unless you grant indefinite access to a TPP, you will have to be involved every time the TPP accesses your account.
     

    If you want, you can give an AISP permission to access your payment accounts for a set amount of time or indefinitely. Indefinite means the consent will never expire. During this time they may access your accounts up to four times a day without your direct involvement.  They can check your account activity without you having to log-on as well.  To renew this access you need to go through Strong Customer Authentication (SCA) with us every 90 days if you have allowed the TPP to access your accounts indefinitely.
     

    Like AISPs you can also give a CBPII access to carry out a funds check on your account for a set amount of time or indefinitely. During this time the CBPII can access your account until the date you have set or you remove their access. You need to go through SCA with us to change this access, but you don’t need to do it every 90 days for a CBPII.

    You can take access away from AISPs and CBPIIs through the ‘Shared Accounts Settings’ on your online banking profile.

     

    If you are using a PISP, you have to be involved in every transaction when the PISP contacts us on your behalf.  A PISP cannot have ongoing access to your account.

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Help and guidance

The Open Banking industry website is central portal packed full of useful, practical information which you can access for more guidance. Further information can also be obtained at FCA.

 

 

Talk to us

Online Banking users can simply call Phoneline Banking on 0345 793 0000 log in and choose option zero (0) and one of our Customer Service Advisers will be happy to help you. Our advisers are available between 8am and 12am (Midnight), 7 days a week.

 

iBB users can simply call our iBB Customer Support team on 0345 241 1871 between 8:30am and 5:30pm and one of our Customer Service Advisers will be happy to help you.

 

 Calls may be recorded. Call charges may vary - refer to your service provider.

 

 

Important Information

Personal Banking terms & conditions

Business accounts terms & conditions

Online Banking FAQ's 

iBB FAQ’S

Security Centre

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