Open Banking Europe and Open Banking Exchange have combined to form a single group in pursuit of the benefits of open banking (open finance) technology.
According to a statement from the new group, “subject matter experts and advisors to regulators, self-regulated organizations (SROs) and national communities on the advancement of open banking and open finance,” have formed “one global OBE.”
John Broxis, Managing Director of Open Banking Europe, will lead the combined organization globally, supported by regional Directors in Europe, Latin America, the Middle East, and Asia.
Broxis commented on the combined entity:
“Having one global OBE puts us in an unrivalled position to be able to take best practices and learnings from different jurisdictions and apply them to similar ecosystems to help guide and shape the development of open banking and open finance communities around the world.”
Open Banking Exchange was founded in 2021 following the success of Open Banking Europe, launched in June 2017 under the European Banking Association & EBA CLEARING. The mission of the gr0up remains to foster innovation, competition, consumer choice as well as robust security.
Open Banking has emerged as a movement on the heels of advancements in Fintech. Technology now makes it simpler to share data or leverage new services while allowing the end user complete control of their personal information and decisions.
OBE seeks to support central banks, regulatory authorities and regional communities with the operation of open banking and open finance ecosystems.
OBE’s Membership Programmes are designed to enable participants of the Open Banking ecosystems to collaborate with subject matter experts, while jointly shaping the industry, creating commercial opportunities, solving problems and removing risk.
According to OBE, the Consultancy and Advisory team works with central banks, regulators and market participants across:
- Strategic Planning: OBE collaborates with central banks, regulators and market participants to set out national and local commitments and goals.
- National Methodologies: OBE provides industry experts to assist in practical and operational design, the implementation of industry-level governance, and technical and operational arrangements.
- Standards Delivery: OBE tailors standards so that they become applicable in specific jurisdictions and achieve the specific goals of our clients.
- Best Practice Guides and Rulebooks: our functional standards and best practice guides enable market participants to comply with regulatory objectives.