# Open Banking Glossary
source: https://developer.mastercard.com/open-banking-connect/documentation/glossary/index.md

### Terms and definitions {#terms-and-definitions}

An Account Information Service provides account information services as an online service to provide consolidated information on one or more payment accounts held by a payment service user with one or more payment service provider(s). Account Servicing Payment Service Providers provide and maintain a payment account for a payer as defined by the PSRs and, in the context of the Open Banking Ecosystem are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers' account transaction data available to third party providers through their API end points. The nine largest banks and building societies in Great Britain and Northern Ireland, based on the volume of personal and business current accounts.   
AIB Group (UK) plc trading as First Trust Bank in Northern Ireland, Bank of Ireland (UK) plc, Barclays Bank plc, HSBC Group, Lloyds Banking Group plc, Nationwide Building Society, Northern Bank Limited, trading as Danske Bank, The Royal Bank of Scotland Group plc, Santander UK plc (in Great Britain and Northern Ireland). The Financial Conduct Authority is the conduct regulator for 56,000 financial services firms and financial markets in the UK and the prudential regulator for over 18,000 of those firms. The Open Banking Implementation Entity is the delivery organization working with the CMA9 and other stakeholders to define and develop the required APIs, security and messaging standards that underpin Open Banking. Otherwise known as Open Banking Limited. The Payment Services Directive 2015 / 2366, as amended or updated from time to time and including the associated Regulatory Technical Standards developed by the EBA and agreed by the European Commission and as implemented by the PSR and including any formal guidance issued by a Competent Authority. A Payment Initiation Services Provider provides an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider. A Payment Services User is a natural or legal person making use of a payment service as a payee, payer or both. Strong Customer Authentication as defined by EBA Regulatory Technical Standards is an authentication based on the use of two or more elements categorized as knowledge (something only the user knows \[for example, a password\]), possession (something only the user possesses \[for example, a particular cell phone and number\]) and inherence (something the user is \[or has, for example, a finger print or iris pattern\]) that are independent, \[so\] the breach of one does not compromise the others, and is designed in such a way as to protect the confidentiality of the authentication data. A generic term for an automatic movement of funds between accounts. OBIE, limits the definition to, the movement of a customer's own funds between accounts owned by them. Third Party Provider - the regulated entity that requires permission from PSU, to initiate a payment order, or to access PSU's account information from ASPSP, in order to provide services in accordance with PSD2.   
Third Party Providers are either or both Payment Initiation Service Providers (PISPs) and Account Information Service Providers (AISPs). Variable recurring payments initiated by the TPP based on the consent provided previously by the PSU. A variable recurring payment with SCA exemption, for which, the TPP should ensure that the below criteria is met:  

* The source account needs to be a PCA or BCA (not multi-authorisation)
* The destination account is an account into which a domestic payment can be made by the payer's bank's direct channel.
* Both accounts are UK sterling accounts.
* The payment can be an unattended payment, not requiring any interaction by or presence of the PSU at the time of making the payment.
* The transaction is between two accounts belonging to the same person or legal entity.
* Requires the use of a specific set of sweeping consent parameters.
YAML - YAML ain't Markup Language is a human-readable data serialization language.