What factors are contributing to the increased error rates for TrueLayer's Open Banking data retrieval service in the UK market this quarter?

Introduction

TrueLayer's Open Banking data retrieval service in the UK market is experiencing increased error rates this quarter, potentially impacting user experience and business performance. To address this critical issue, I'll employ a systematic approach to identify, validate, and resolve the root cause while considering both immediate and long-term implications.

Step 1

Clarifying Questions (3 minutes)

• Considering the timing, I'm wondering if there have been any recent changes to the Open Banking ecosystem. Have there been any updates to the Open Banking standards or APIs that banks are required to implement?

Why it matters: Changes in the ecosystem could directly impact our service's ability to retrieve data accurately. Expected answer: There have been minor updates to the Open Banking standards, but nothing major. Impact on approach: If there have been significant changes, we'd need to focus on adapting our system to new requirements.

• Looking at the error rates, I'm curious about the specific types of errors we're seeing. Are these primarily authentication errors, data retrieval timeouts, or something else?

Why it matters: Different error types point to different root causes and require different solutions. Expected answer: We're seeing a mix of errors, with a notable increase in data retrieval timeouts. Impact on approach: If timeouts are the main issue, we'd focus on network connectivity and API performance.

• Considering user segments, I'm wondering if this issue is affecting all users equally or if it's more prevalent among certain banks or user groups. Have we noticed any patterns in terms of affected users?

Why it matters: Identifying patterns helps narrow down potential causes and prioritize solutions. Expected answer: The issue seems more prevalent with users from smaller, regional banks. Impact on approach: If specific banks are more affected, we'd need to investigate our integration with those particular institutions.

• Thinking about our system's recent history, have there been any significant changes to our data retrieval service or infrastructure in the past quarter?

Why it matters: Internal changes could be contributing to the increased error rates. Expected answer: We've recently migrated to a new cloud infrastructure provider. Impact on approach: If there have been major internal changes, we'd need to scrutinize our implementation and configuration.