OBL publishes the Commercial Model for Variable Recurring Payments Wave 1

We are pleased to publish Commercial Model for Variable Recurring Payments Wave 1, the public consultation on the Wave 1 cVRP commercial Model report prepared by Frontier Economics for OBL.

We welcome your feedback on the proposals and pricing set out in the report. Please share your response by 16 May.

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The Future is Open: Navigating the Future of Open Banking

This new report, from global professional services firm, Alvarez & Marsal, features insights from OBL Trustee, Marion King, and industry experts on the next steps needed to ensure open banking’s continued success.

These include commercial variable recurring payments, the diversification of ‘open’ financial data and cross-border data portability.

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Simplify switching products and services with Smarter Contracts’ Pulse protocol

Switching products and services can help consumers make valuable savings on financial products and services – like finding better interest rates or savings accounts – but this takes time and effort. Smarter Contracts’ Pulse™ protocol aims to simplify data permissions for companies and consumers – and make switching as pain-free as possible.

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Citizens Advice uses PayPoint and AperiData financial support tool to speed up debt assessments

Citizens Advice helped 2.5m people with support in 2024, including advice on debt and money management.

Its Stevenage team used PayPoint and AperiData’s FIS Customer Support Tool to speed up financial assessments, enabling advisers to offer advice faster, reduce the number of clients who drop out of support, and helping build financial resilience.

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MARCH ECOSYSTEM HIGHLIGHTS

332 Regulated Providers
242 Third Party Provider
90 Account Providers
157 Regulated entities with at least one proposition live with customers

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ECOSYSTEM

Find all the information and support your organisation needs to create personalised open banking-enabled services.

Account Providers

Forge links to a thriving community of fintechs and other innovative firms – collaborating to deliver value-adds, tailored to customers’ financial needs via their bank transaction data.

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Fintechs (TPPs)

Build your proposition with access to the expertise and tools of a world-leading open banking ecosystem – plus the Open Banking Directory of participants.

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Technical service providers

From security standards to support services, open banking gives you trusted credentials.

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Regulatory

Information and guides to help you navigate open banking regulation, from the CMA order to PSD2 and beyond.

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March API performance

99.48%

Average API Availability

351ms

Average API Response Time

99.37%

Successful API Calls (%)

99.55%

Average API availability – weighted

1990.1m

Successful API Calls Actual

0.63%

Failed API Calls

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BENEFITS

Explore the many practical ways that open banking can help you take control of your finances.

Consumers

Open banking is a secure way to help you understand your day-to-day finances, find cost-effective lending, and help tackle debt.

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Businesses

Open banking data and payments solutions can help businesses manage their finances, control cash flow and improve financial forecasting.

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