By the end of 2021 there were 337 regulated providers enrolled in the OBIE Directory – up from 294 at the close of 2020. This growth points to the continued value firms receive from direct participation in open banking.
Payments made using open banking:
At the end of 2021, cumulatively over 26.6m open banking payments had been made. An increase of more than 500% in 12 months.
Ecosystem Numbers (December 2021)
OBIE’s GOALS for 2022
Charlotte Crosswell, Chair & Trustee, OBIE said:
“2021 was a year of growth for open banking in the UK. We witnessed a 60 per cent increase in the number of active open banking users, with adoption increasing at a rate of approximately one million new users every six months. Similarly, OB payments increased by an impressive 500 per cent year on year. The OBIE navigated a number of difficult challenges, but sought to listen, learn and reform as a number of organisational, governance and cultural changes were made. As we move forward in 2022 and these internal improvements continue, we want to see the growth momentum that took us to the recent 5 million user milestone continue.”
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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.
The OBIE is governed by the CMA and funded by the CMA 9 (Allied Irish Bank, Bank of Ireland, Barclays, Danske, HSBC, Lloyds Banking Group, Nationwide, Natwest Group and Santander). It works with the CMA 9, as well as challenger banks, financial technology companies, third party providers and consumer groups. The OBIE’s role is to: