The Open Banking Implementation Entity (OBIE) today announced that Jeremy Newman has been appointed to the Board as an independent Non-Executive Director (NED) with immediate effect.
Mr Newman will join the OBIE Board to provide governance support, specifically immediate independent scrutiny and oversight of the organisation. Mr Newman, who has joined the OBIE on a six month fixed term contract, will also play a pivotal role in supporting recently appointed OBIE Chair Charlotte Crosswell.
This is the first of several actions being taken as a priority to address the findings and recommendations in Alison’s White’s report to strengthen governance arrangements at the OBIE. Mr Newman will bring extensive senior executive and board experience, and add specialist accounting and audit knowledge to the Board. Further information on Mr Newman can be found here.
The OBIE has helped to establish the UK as a recognised world leader in open banking. Four million consumers and small businesses in the UK now use services powered by open banking technology. Appointing Mr Newman to the Board will help support the team to further achieve their mission of increasing user adoption, as well as continuing to drive FinTech innovation.
Further to this appointment, an open recruitment process to appoint additional independent NEDs is underway. The OBIE is working with executive search firm Moloney Search. Initial expressions of interest from potential candidates are welcome, please contact OBIE@moloneysearch.com in the first instance.
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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). Its 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: