NatWest Bank has become the first UK bank to join the Crown Commercial Service’s Dynamic Purchasing System (DPS) for Open Banking.
The move will allow all UK public sector entities to access NatWest’s open banking solutions, including its Payit service with Confirmation of Payee API to prevent fraud.
The Crown Commercial Service’s support initiatives aimed at boosting commercial value within the public sector delivered £2.8 billion in commercial benefits during the 2021-2022 period.
With NatWest already a major player in public sector banking, the bank’s involvement underscores the growing integration of open banking in governmental operations and a strong commitment to innovation and security in the financial services.
Link: https://www.openbankingexpo.com/news/natwest-first-uk-bank-accepted-onto-uk-open-banking-dps/