Regulatory AlertsPS20/13: Amendments to the open banking identification requirements (eIDAS certificates)
The UK Financial Conduct Authority amends Article 34 of the UK regulatory technical standards to require account servicing providers to accept alternative electronic identification certificates alongside eIDAS certificates. This change addresses the impending revocation of EU-issued eIDAS certificates for UK third-party providers following Brexit, ensuring continued secure access to customer payment data. The regulation includes a short transition period until 30 June 2021 to allow firms to implement necessary technical changes without disrupting open banking services for over two million customers.
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