TPPs will need to use the entity details for the new Silicon Valley Bank legal entity from 1 August 2022 

 

What is happening 

Silicon Valley Bank (SVB) UK Branch is switching to a new separate entity within the Open Banking Directory. The change relates to plans for Silicon Valley Bank UK Branch to operate as a wholly owned subsidiary of Silicon Valley Bank, which will involve the transfer of the UK Branch business into a new legal entity, effective from 1 August 2022.  

 

We will be deploying the changes during the morning of Saturday 30th July 2022 starting after 2:30 am. After this TPPs wanting to consume Silicon Valley Bank’s AIS, PIS & CBPII APIs will need to use the new entity details. Please note that there maybe some disruption to AIS calls over this weekend as we make system changes, but all services should be operating normally by the morning of Monday 1st August 2022. 

 

Entity Info Changes 

Legacy Entity 

 Name 

 Silicon Valley Bank 

 OB Org Id 

 0015800001ZEZ23AAH 

 End date 

 31st July 2022 

 

New Entity 

 Name 

 Silicon Valley Bank UK Limited 

 OB Org Id 

 0014H00003ARnY7QAL

 Start date 

 1st August 2022 

 

 

TPP Impacts 

Registration 

TPPs will NOT need to re-register with the new entity – SVB will transfer all existing TPP registrations to the new entity. TPPs will be able to continue to use their existing client credentials with the new SVB entity.  

 

Consents & access tokens 

Any existing consents and access tokens will also continue to be supported by the new SVB entity to minimise any impact to TPPs and end-users.  

 

Endpoint URLs 

The SVB base path will NOT be changing and there are no changes to our endpoint URLs.  

The SVB .well-known endpoint URL also will NOT be changing.  

The jwks URL will be changing to reflect the new SVB entity and will be updated in the .well-known endpoint from 1st August 2022. 

 

Headers 

TPPs will need to use the new entity’s Org Id in the x-fapi-financial-id header. Any calls received that have the legacy Org Id in this field will be rejected. 

 

Message Signing 

Any messages signed by SVB will have the new entity’s Org Id in the http://openbanking.org.uk/iss claim within the signature. 

 

Certificates 

The OBWAC and OBSeal certificates associated with the legacy SVB entity will be deactivated on the 1st August 2022 after the switch over. 

After our deployment MTLS will need to be established using the new SVB entity’s OBWAC certificate and all messages will be signed with the new entity’s OBSeal certificate. 

 

Sandbox 

The new SVB entity will be available for testing from the beginning of July in the Open Banking sandbox environment. Parallel running of the new and legacy entity will not be supported in Production so it is recommended that all TPPs test with the Sandbox ahead of the changes.  

 

Further questions 

If you have any further questions, please reach out to apisupport@svb.com