The Open Banking Implementation Entity (the ‘OBIE’), the body created by the UK’s largest personal and small business current account providers to create a better way to move, manage and make more of your money,…Read more
Manage, Move and Make More of Your Money
Open Banking enables you, or your company, to give companies access to your accounts so that they can provide new products and services to help you securely move, manage and make money available more easily and efficiently.
Here at Open Banking we build the software standards and set the industry guidelines that ensure you can use this new world of financial services with confidence.
That means that you are in control, your accounts and your data are secure and you can be assured that the companies you deal with are regulated by the Financial Conduct Authority or the National Competent Authority.
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.
Guidelines for Read/Write Participants Updates The Open Banking Implementation Entity has updated its Guidelines for Read/Write Participants to provide additional guidance to Participants operating within the Open Banking Ecosystem from 13 January 2018. This update…Read more
The UK’s largest account providers are making it possible for customers to make the most of their financial data and easily and securely access services from a wide range of companies that better meet their…Read more
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…Read more