Open Banking Security Conformance
Conformance with Open Banking API security and data sharing standards.
Overview
Open Banking Security Conformance validates that financial API implementations meet the security requirements defined by Open Banking standards bodies. This includes OAuth 2.0 and OpenID Connect based authentication, Financial-grade API (FAPI) security profiles, consent management, and secure data sharing between authorized third-party providers. CodeMiners' conformance ensures that financial API integrations we build meet the security requirements of banking regulators and Open Banking ecosystems.
Governing Body
Open Banking Implementation Entity (OBIE) / OpenID Foundation (FAPI specifications)
Scope of Certification
Covers API security for financial data sharing: authentication and authorization (FAPI profile), consent management, data minimization, secure transport, certificate-based mutual TLS, and token management for third-party provider access.
Audit and Assessment Process
Conformance is validated through automated conformance testing suites maintained by the OpenID Foundation and Open Banking Implementation Entity. Systems must pass all mandatory test cases for applicable FAPI profiles. Certificates of conformance are issued upon successful completion.
Key Requirements
- Financial-grade API (FAPI) security profile compliance
- Mutual TLS (mTLS) for API authentication
- OAuth 2.0 authorization code flow with PKCE
- Consent management with granular scope control
- Certificate-based client authentication
- Secure token storage and rotation
Compliance Entitlements
- Validated conformance with Open Banking security specifications
- Financial-grade API (FAPI) security profile implementation
- OAuth 2.0 and OpenID Connect compliant authentication
- Secure consent management and data sharing controls
Client Benefits
- Ensures financial API integrations meet banking regulator security requirements
- Enables secure data sharing with authorized third-party providers
- Required for participation in Open Banking ecosystems (UK, EU, Australia)
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