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


Open Banking Begins Managed Roll Out

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,…

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UK's Open Banking to Launch on 13 January 2018

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…

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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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