The OpenID Foundation Strategy & a Deep Dive on FAPI and the Global Open Banking, Open Data Movement

Session Details

The OpenID Foundation standards are used today for consumer and enterprise login, open banking, open health, digital identity issuance and acceptance, and other federated identity use cases. We will give a brief overview of the OpenID Foundation’s strategy to serve the global community with its standards and certification capabilities. Then we will do a deep dive on the FAPI security profile in the context of Open Banking and Open Data implementations that are cascading around the world. The FAPI Security profile has been selected by public and private networks in the US, UK, Brazil, Australia, Norway and beyond. They are also a leading contender to enable cross border use cases. Background on FAPI and the global Open Banking, Open Data movement can be found in two OIDF whitepapers published this year:

A Primer on the global movement behind Consent-Based movement of Data “Open Banking and Open Data and the Financial Grade API.” (final) https://openid.net/wordpress-content/uploads/2022/03/OIDF-Whitepaper_Open-Banking-Open-Data-and-Financial-Grade-APIs_2022-03-16.pdf
A first Editor’s draft on how open banking implementations in different markets can interoperate, and the leading use cases to enable them: “Open Banking and Open Data: Ready to Cross Borders?” – https://openid.net/wordpress-content/uploads/2022/07/OIDF-Whitepaper_Open-Banking-Open-Data_1st-Editors-Draft_2022-07-29.pdf