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Background to Open Banking

Open Banking aims to increase the number of companies that can offer financial services and to enable them to build entirely new ways to manage your money.

We were created, in 2016, by the Competition & Markets Authority and the UK’s nine largest providers of personal and business current accounts to change the market for retail banking forever.

We aim to do that by creating a single standard which regulated and authorised companies can use to access accounts held by a wide range of banks and building societies.

The first version of this standard will be live in the UK in January 2018.

Background To Open Banking

Guide To Open Banking Flipbook

Latest News

Nov222017

UK’s Open Banking Project Expanded

Open Banking Standards to Expand Functionality and Cover all PSD2 Products The Open Banking Implementation Entity (OBIE), the body set up by the Competition & Markets Authority (CMA) to enable a new, secure way for…

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Oct132017

One Step Closer to Open Banking

“We are one step closer to delivering the potential of Open Banking for the benefit of consumers and businesses.”  Imran Gulamhuseinwala OBE, Trustee, Open Banking Open Banking, the implementation entity set up by the Competition…

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