In 2023, we completed the CMA’s Revised Roadmap. Thanks to the CMA9, regulators, policymakers, fintechs and other key players in the open banking ecosystem who collaborated to successfully deliver this world-leading regulatory initiative.

Six years on from our launch, 2024 is a pivotal year as we transition to a new entity, move beyond being a competition remedy and look to harness commercial incentives to build on our successes.

We will move to new arrangements agreed by the Joint Regulatory Oversight Committee (JROC), but will continue to protect the ongoing requirements of the Order to deliver benefits to the wider economy, consumers and small businesses.

Open banking - expert predictions for 2024

As we look ahead to a pivotal year, we ask the ecosystem, politicians, and business representatives to share their predictions for 2024.

Find out their views on open finance, consumer apps, VRPs, Smart Data and the all-important DPDI Bill.

“OBL saw continued growth in both payments volume and adoption in 2023, as well as working with JROC to progress its work, and to ensure the smooth transition to a future entity. This will protect the CMA Order and continue to ensure that open banking delivers a public good.

As the Data Protection and Digital Information Bill makes its way through Parliament, we look forward to progressing our work with the Smart Data Council on wider regulatory initiatives that will bring the benefits of open banking to other economic sectors such as energy, transport, telecoms, home-buying, and retail.”

Marion King, OBL Chair and Trustee