ReBIT Clarification: Mandatory and Optional Fields in FI Type Schema
On January 23, 2025, ReBIT released Guidelines extending clarity to the AA ecosystem in terms of the treatment of Mandatory and Optional fields in FI Type Schema.
The Guidelines clarify that FIPs are required to strictly adhere to the FI Type Schema while sharing customer’s financial information over the Account Aggregators. They further provide detailed clarifications in respect of how ‘Mandatory’ and ‘Optional’ fields in the FI Type Schema must be implemented by the FIPs, as below:
Mandatory Fields:
- Any field or element in schema marked as “Required” is a mandatory field or element.
- FIPs are required to furnish the value for the respective field as available with them.
- Mandatory fields or elements should not be missing, or null value/ dummy data should not be provided for such fields.
Optional Fields:
- Any field or element in schema marked as “Optional” is an optional field or element.
- FIPs are required to furnish the information for such fields in case value for such fields are available with them.
- In case the data is not available, it is recommended to exclude the field from shared data.
These important clarifications from ReBIT will play a crucial role in ensuring that the FI Type Schema is adopted harmoniously by all FIPs in the ecosystem, while simultaneously helping ensure that there is consistency and completeness in the data exchanged through the AA framework.
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