OB-B.1 OB-B.1 Introduction
OB-B.1.1
The provision of
account information services andpayment initiation services entails obtaining access tocustomer accounts through 'application program interfaces' (APIs) with licensees maintainingcustomer accounts includeconventional retail bank licensees ,Islamic retail bank licensees financing companies and PSPs operating electronic wallets, (referred to in this Module as "licensees maintainingcustomer accounts"). Given the nature of risks inherent in online activities, theancillary service providers undertaking such activities will be subject to strict regulatory standards to ensure the integrity and safety ofcustomer data, the APIs,customer on boarding process, authentication process, communication sessions, process for tracking of security incidents and associated standards of dealing with thecustomers while undertaking this activity.Added: December 2018