KSAOB standards

SingleView Open Banking is designed to align with the Saudi Open Banking Framework and standards issued by the Saudi Central Bank (SAMA).

The Saudi Open Banking ecosystem establishes a standardized approach for financial institutions and third-party providers to securely exchange customer-permissioned financial data.

Core Principles

Customer Consent

Customers remain in control of their financial data.

Access to banking information can only be granted after the customer explicitly authorizes the requested permissions and scope of access.

Security

All Open Banking interactions must be protected through secure authentication, encryption, and secure communication channels.

Transparency

Customers must be informed about:

• What data is being shared
• Why the data is being requested
• How long access will remain active
• How consent can be revoked

Standardization

Standardized APIs and data models promote interoperability between banks, fintechs, and third-party providers.

Consent Lifecycle

The consent lifecycle typically includes:

1. Consent creation
2. Customer authorization
3. Data access
4. Consent monitoring
5. Consent revocation or expiry

Developers integrating with SingleView should ensure that customer consent is obtained and maintained before accessing any banking data.

Compliance Considerations

When building Open Banking solutions, developers should:

• Access only data covered by customer consent.
• Respect consent validity periods.
• Handle customer data securely.
• Implement appropriate audit and monitoring controls.
• Follow applicable regulatory and organizational policies.

Refer to the Consent Management and Security sections for implementation guidance.