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By enabling customers to access alternative sources of short-term credit and make repayments as soon as funds are available, sweeping can help cut the cost of borrowing.

From troubleshooting technical issues to application of the standards, we are here to help your organisation unlock the potential of open banking.

Find out more about our Directory at https://www.openbanking.org.uk/directory The OBIE enables companies enrolled in the Directory to maximise their open banking efforts. Everything we do is aimed at ensuring the success of the ecosystem, with specialist teams standing by to help – from troubleshooting technical issues with counterparties to application of the standards. Our Participant Support Team provide an expert point of contact to every enrolled firm. Our ecosystem teams work tirelessly to generate new opportunities. Championing Innovation. Raising awareness across industry and government departments. And forging links with representative bodies. The Policy, Standards and Directory teams work to keep our participants on the front foot. Ensuring that the regulatory and technical pillars that underpin the entire ecosystem are future-proofed and fit for purpose. Unlock the opportunity of open banking. Contact us today to learn more.

Open banking can help you find a wider range of loans that suit your business or personal finances and benefit from faster lending decisions.

Savings apps can help you make your money work harder by letting you see all your savings in one place. That means you can tuck away cash for holidays – and find the most cost-effective ways to spend abroad. Apps can even help protect your cash from fraudsters – and give you peace of mind.

Get paid faster – and with fewer errors – using an app. Customers get a slick experience and you get shorter call times.

Kate’s company issues thousands of bill reminders a day and gets lots of payment errors, wrong reference numbers. Inaccurate amounts. Mistakes lead to manual interventions that need time, effort and cost to resolve. Now, they use an open banking payments provider. Customers are notified when they need to pay a bill and can securely settle up using the company’s mobile app with the relevant details pre-populated in an easy-to-use gateway. All the customer has to do is provide their explicit consent and authenticate the payment of their bank. This enables the payment to reach Kate’s company almost immediately through Faster Payments with fewer errors. Customers get a slick, intuitive experience and the peace of mind of another job done. No need to store card details, no more suspense accounts, no more manual retrieval and reconciliation and shorter call times for Kate’s team, who can now work on delivering real value to the company and its customers.