About the OBIEThe Open Banking Implementation Entity (OBIE) creates software standards and industry guidelines to drive competition, innovation and transparency in UK retail banking. Play VideoScroll for moreClick to close modal Learn more about open banking In 2016, The Competition and Markets Authority (CMA) published a report on the UK’s retail banking market. The report found that older, larger banks don’t have to compete hard enough to gain customers’ business, while newer banks find it difficult to access the market and grow. One of the CMA’s recommendations to tackle this problem was open banking. Since 2018, the open banking ecosystem has enabled customers and SMEs to share their current account information securely with third party providers, who use that data to tailor their apps and services to peoples’ specific financial circumstances. As the open banking programme matures, the OBIE is evolving from a singularly focussed programme delivery entity, into a broader ecosystem enabler and services provider. OBIE activities can now be broadly grouped into three areas: WORKING TO BRING OPEN BANKING TO LIFESupervisory activitiesShaping and championing the opening banking ecosystemProviding critical services and infrastructureSupervisory activitiesThe OBIE enables the Trustee to discharge his regulatory obligations, by:Providing secretariat services to the Implementation Entity Steering Group (see Governance & Financials section for more detail on the IESG)Recording and managing the governance of CMA 9 requirements under the CMA Order and RoadmapCollating management information (MI) from the CMA 9 on their implementation of the OBIE open banking Standards and Roadmap items, and the performance of those implementationsProviding frequent reports to the Trustee based on this monitoringSupporting the Trustee in the issuance of Directions in situations where performance or implementations are deemed to be below expectations, followed by the ongoing monitoring of adherence to those DirectionsThis work is carried out primarily by the Office of the Trustee, which includes the Monitoring team, who in turn draw on the wider expertise of colleagues across the entire organisation and particularly the Management Information team.Find out moreShaping and championing the opening banking ecosystemThe OBIE generates the Standard and promotes the ecosystem, by:Publishing and maintaining the OBIE open banking StandardOperating the Evaluate/Consult/Implement process by developing content and running consultations and working groupsPromoting open banking to the wider ecosystem, end user organisations and new verticals, to encourage participation, highlight use cases and fuel adoptionCurating and producing research, expert analysis, thought leadership and insight that is of value to ecosystem participantsFind out moreProviding critical services and infrastructureThe OBIE underpins the day-to-day running of open banking in the UK, by:Developing and operating the OBIE Directory, which is the trust framework that sits at the heart of open bankingProviding tangible technical assistance to all ecosystem participants, including financial institutions, pre-paid and credit card providers, and TPPs – from certification and on-boarding through to BAU supportMaintaining the highest principles of security and counter-fraud within the ecosystem and providing an information-sharing platform between participantsEnabling ecosystem participants with a platform for managing disputes and complaintsFind out more The OBIE’s Annual Report2020 was a transformational year for open banking and for the OBIE. This report provides an overview of the OBIE’s activities for 2020 and 2021.Read the report Latest News View all news Journalist News The OBIE Highlights – September 2021 21 Oct 2021 Read more Press Releases OBIE publishes version 3.1.9 of the Open Banking Standard 21 Oct 2021 Read more Consultation OBIE Chair commits to focus on workplace culture and improving corporate governance as immediate priorities 08 Oct 2021 Read more Journalist News The OBIE Highlights – August 2021 17 Sep 2021 Read more CONTACT USIf you have a enquiry about the OBIE or would like to get involved with open banking, please contact us at enquiries@openbanking.org.uk. For anything else, please visit our contact us page.Visit our contact page
About the OBIEThe Open Banking Implementation Entity (OBIE) creates software standards and industry guidelines to drive competition, innovation and transparency in UK retail banking. Play VideoScroll for moreClick to close modal
Learn more about open banking In 2016, The Competition and Markets Authority (CMA) published a report on the UK’s retail banking market. The report found that older, larger banks don’t have to compete hard enough to gain customers’ business, while newer banks find it difficult to access the market and grow. One of the CMA’s recommendations to tackle this problem was open banking. Since 2018, the open banking ecosystem has enabled customers and SMEs to share their current account information securely with third party providers, who use that data to tailor their apps and services to peoples’ specific financial circumstances. As the open banking programme matures, the OBIE is evolving from a singularly focussed programme delivery entity, into a broader ecosystem enabler and services provider. OBIE activities can now be broadly grouped into three areas:
WORKING TO BRING OPEN BANKING TO LIFESupervisory activitiesShaping and championing the opening banking ecosystemProviding critical services and infrastructureSupervisory activitiesThe OBIE enables the Trustee to discharge his regulatory obligations, by:Providing secretariat services to the Implementation Entity Steering Group (see Governance & Financials section for more detail on the IESG)Recording and managing the governance of CMA 9 requirements under the CMA Order and RoadmapCollating management information (MI) from the CMA 9 on their implementation of the OBIE open banking Standards and Roadmap items, and the performance of those implementationsProviding frequent reports to the Trustee based on this monitoringSupporting the Trustee in the issuance of Directions in situations where performance or implementations are deemed to be below expectations, followed by the ongoing monitoring of adherence to those DirectionsThis work is carried out primarily by the Office of the Trustee, which includes the Monitoring team, who in turn draw on the wider expertise of colleagues across the entire organisation and particularly the Management Information team.Find out moreShaping and championing the opening banking ecosystemThe OBIE generates the Standard and promotes the ecosystem, by:Publishing and maintaining the OBIE open banking StandardOperating the Evaluate/Consult/Implement process by developing content and running consultations and working groupsPromoting open banking to the wider ecosystem, end user organisations and new verticals, to encourage participation, highlight use cases and fuel adoptionCurating and producing research, expert analysis, thought leadership and insight that is of value to ecosystem participantsFind out moreProviding critical services and infrastructureThe OBIE underpins the day-to-day running of open banking in the UK, by:Developing and operating the OBIE Directory, which is the trust framework that sits at the heart of open bankingProviding tangible technical assistance to all ecosystem participants, including financial institutions, pre-paid and credit card providers, and TPPs – from certification and on-boarding through to BAU supportMaintaining the highest principles of security and counter-fraud within the ecosystem and providing an information-sharing platform between participantsEnabling ecosystem participants with a platform for managing disputes and complaintsFind out more
Supervisory activitiesThe OBIE enables the Trustee to discharge his regulatory obligations, by:Providing secretariat services to the Implementation Entity Steering Group (see Governance & Financials section for more detail on the IESG)Recording and managing the governance of CMA 9 requirements under the CMA Order and RoadmapCollating management information (MI) from the CMA 9 on their implementation of the OBIE open banking Standards and Roadmap items, and the performance of those implementationsProviding frequent reports to the Trustee based on this monitoringSupporting the Trustee in the issuance of Directions in situations where performance or implementations are deemed to be below expectations, followed by the ongoing monitoring of adherence to those DirectionsThis work is carried out primarily by the Office of the Trustee, which includes the Monitoring team, who in turn draw on the wider expertise of colleagues across the entire organisation and particularly the Management Information team.Find out more
Shaping and championing the opening banking ecosystemThe OBIE generates the Standard and promotes the ecosystem, by:Publishing and maintaining the OBIE open banking StandardOperating the Evaluate/Consult/Implement process by developing content and running consultations and working groupsPromoting open banking to the wider ecosystem, end user organisations and new verticals, to encourage participation, highlight use cases and fuel adoptionCurating and producing research, expert analysis, thought leadership and insight that is of value to ecosystem participantsFind out more
Providing critical services and infrastructureThe OBIE underpins the day-to-day running of open banking in the UK, by:Developing and operating the OBIE Directory, which is the trust framework that sits at the heart of open bankingProviding tangible technical assistance to all ecosystem participants, including financial institutions, pre-paid and credit card providers, and TPPs – from certification and on-boarding through to BAU supportMaintaining the highest principles of security and counter-fraud within the ecosystem and providing an information-sharing platform between participantsEnabling ecosystem participants with a platform for managing disputes and complaintsFind out more
The OBIE’s Annual Report2020 was a transformational year for open banking and for the OBIE. This report provides an overview of the OBIE’s activities for 2020 and 2021.Read the report
Latest News View all news Journalist News The OBIE Highlights – September 2021 21 Oct 2021 Read more Press Releases OBIE publishes version 3.1.9 of the Open Banking Standard 21 Oct 2021 Read more Consultation OBIE Chair commits to focus on workplace culture and improving corporate governance as immediate priorities 08 Oct 2021 Read more Journalist News The OBIE Highlights – August 2021 17 Sep 2021 Read more
Consultation OBIE Chair commits to focus on workplace culture and improving corporate governance as immediate priorities 08 Oct 2021 Read more
CONTACT USIf you have a enquiry about the OBIE or would like to get involved with open banking, please contact us at enquiries@openbanking.org.uk. For anything else, please visit our contact us page.Visit our contact page