Account and Transaction Protocol of the Open Banking Standard
Abdulaziz Almehrej, Leo Freitas, Paolo Modesti
International Conference on Rigorous State-Based Methods (ABZ 2020), Ulm, Germany, 2020
Abstract
To counteract the lack of competition and innovation in the financial services industry, the EU has issued the Second Payment Services Directive (PSD2) encouraging account servicing payment service providers to share data. The UK, similarly to other European countries, has promoted a standard API for data sharing: the Open Banking Standard. We present an overview of the results of a formal security analysis of the Account and Transaction API protocol.
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