Open banking relies on trust, interoperability and consistent implementation. While standards define how open banking should operate, a conformance framework helps assess whether those standards are being implemented consistently across the ecosystem.
This discussion paper explores options for a future conformance framework for our country’s open banking ecosystem. It is intended to support discussion among industry participants, regulators and stakeholders on practical approaches to improving implementation consistency, interoperability and customer outcomes.
The paper covers:
- The role of conformance in open banking
- Current ecosystem challenges and opportunities
- International approaches and lessons from other jurisdictions
- Options for conformance testing, governance and remediation
- A proposed phased implementation approach for Aotearoa
The objective is to support an open banking ecosystem where participants can integrate more consistently, implementation issues are identified and resolved earlier, and customers benefit from secure and predictable experiences.
Download the discussion paper below.