In order to create a unified approach to the integration and interaction of participants of the financial environment, the National Bank of Kyrgyzstan presented a new API standard for public discussion.

The document establishes basic guidelines for open banking interfaces focused on security, transparency and accessibility.

The standard is designed for use by commercial banks, payment system operators and other financial organizations. It includes the use of a RESTful API architecture using OpenAPI 3.0, the provision of multi-factor authentication and detailed scenarios for interaction between service providers and users.

A key element is the implementation of long-term and short-term consent mechanisms for users to transfer data and make payments. This innovation will ensure faster processing of payment transactions, improve user access to account information, and increase the level of personal data protection.