JROC sets out open banking programme

The Joint Regulatory Oversight Committee has published its programme of work to take forward recommendations for the next phase of open banking. Its proposals include creating 2 regulator-led working groups to develop the framework for the expansion of variable recurring payments and the design of the future open banking entity. The VRP group will help consumers and businesses to make a wider range of payments more conveniently and efficiently and plans to develop a blueprint by the end of September. The Future Entity working group again plans to report to the JROC by September and JROC plans to publish its views by the end of the year.

Emma Radmore