1 Open Banking Functional Overview

To read this document, understanding the following terms is important:

ASPSP – Account Service Payment Service Provider. Generally, these are the banks and other Financial Institutions that have the customer data

TPP – Third Party Provider. A player of the Open Banking ecosystem that gets data from the ASPSPs

AISP – Account Information Service Provider. It is a type of TPP

PISP – Payment Initiation Service Provider. It is a type of TPP

PSU – Payment Service User. These are the customers of ASPSPs