LONDON—The U.K.’s Strategic Working Group (SWG), which operates under the Joint Regulatory Oversight Committee (JROC), is planning a series of virtual thematic “strategy sprints” it said are “designed to collate views on the vision and strategic roadmap for the development of U.K. open banking.”
Each strategy sprint will focus on one of the three key areas identified by JROC: unlocking the potential of open banking payments, promoting further data sharing in an open banking framework, and ensuring a sustainable open banking ecosystem, according to Open Banking Expo.
SWG has been tasked with gathering industry and stakeholder insight to shape the future of open banking in the U.K., Open Banking Expo added.
The Participants
The sprints are to be comprised of industry representatives, subject matter experts and other stakeholders, including consumers and businesses and will operate from August until December of this year, the report stated.
“The members of the SWG will be expected to take part in the open banking ecosystem strategy sprint, while two expert panels will be set up to lead the payments strategy sprint and the data strategy sprint, according to the latest announcement,” Open Banking Expo reported. “Each strategy sprint will run over the course of three weeks, starting with a one-hour kick-off session and followed by a two-hour sprint discussion agenda. In all, there will be two rounds of strategy sprints in each of the thematic areas over the next few months.”
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