Open banking highlights – August 2020

Commenting on the August highlights for Open Banking, Trustee of the OBIE, Imran Gulamhuseinwala OBE said:

“Despite the economic headwinds open banking grew strongly in August. New products and partnerships have emerged, and established brands have increased their presence driving a considerable upsurge in user numbers. Many new propositions are helping citizens and small businesses build resilience, which is all the more important given the resurgence of COVID-19.”

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Key Highlights

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About Us

The Open Banking Implementation Entity (OBIE) is the entity set up by the CMA in 2016 to deliver Open Banking. Its trading name is Open Banking Limited.

OBIE is governed by the CMA and funded by the CMA9 (Allied Irish Bank, Bank of Ireland, Barclays, Danske, HSBC, Lloyds Banking Group, Nationwide, RBS Group and Santander). Its works with the CMA 9, as well as challenger banks, financial technology companies, third party providers and consumer groups.
OBIE’s role is to: