1. Data Structure

8.0 Workstream 1 (WS1) : Data Structure

• Standardise financial data structure to ensure accuracy and interoperability across platforms.

• Define the specific data fields needed to support the use cases. Establish a clear, agreed-upon list of data elements for the framework

2. User Journey

9.0 Workstream 2 (WS2) : User Journey

• Design seamless and secure user flows for onboarding, consent, and transactions.

• Develop a unified UI/UX guideline and consistent journey that harmonizes the Open Finance experience across all digital platforms, minimizes user confusion and drives satisfaction.

3. Consent Framework

10.0 Workstream 3 (WS3): Consent Framework

• Develop a comprehensive consent framework covering the entire process-from secure user authentication to the authorization and ongoing management of consent.

4. Technical Spec

11.0 Workstream 4 (WS4): Tech Spec

• Specify ad finalize APIs, security, and tech standards required for seamless integration.

• Set benchmarks for security, performance, and scalability.

5. Rules & Policy

12.0 Workstream 5: Rules Policy

• Develop robust operational procedures for Open Finance that ensure accountability and fair participation.

• Maintain strict standards that align with regulatory requirements and governance rules.

6. Commercial Model

13.0 Workstream 6: Commercial Model

• Develop a sustainable financial framework (economic model) for Open Finance participation, including cost-sharing and incentives.