Tagged: obie

OBIE Says Open Banking is Delivering Benefits to Small Businesses

Last week, the OBIE (Open Banking Implementation Entity) published an Impact Report that indicates open banking is delivering significant benefits to small business. The OBIE report pointed to cloud accounting services stating that 75% of users started using the service no more than three years ago,… Read More

UK: 6 Million Users for Open Banking

Recently the Open Banking Implementation Entity (OBIE) reported that there were a record number of API calls in May of over 1 billion along with 6 million users and 5 million open banking payments. The OBIE noted that 64% of UK consumers claim their level… Read More

Open Banking: UK’s Competition and Markets Authority (CMA) Commits to Implementing the Recommendations in Full

The Competition and Markets Authority (CMA) has released the findings and recommendations of a review by Kirstin Baker, which is one of its independent non-executive Directors, “to identify lessons from Open Banking for the CMA’s approach to designing, implementing and monitoring remedies in its market… Read More

Open Banking Implementation Entity Releases Latest Version of Open Banking Standard

  The Open Banking Implementation Entity (OBIE) is pleased to confirm the publication of the Open Banking Standard, version 3.1.3 – including updates to the Read/Write API Specification and Customer Experience Guidelines (CEGs). This is “a minor update to version 3.1.2 which was released in… Read More

UK CMA Outlines Next Steps for Open Banking Mission

  The UK Competition and Markets Authority (CMA) has issued a statement outlining its recommendations regarding the pursuit of Open Banking. The statement follows a consultation that was initiated in the spring of 2021. The CMA said its recommendations will guide a future entity that… Read More

Open Banking Implementation Committee (OBIE) Appoints Theresa Casey as General Counsel

The United Kingdom’s Open Banking Implementation Entity (OBIE) has reportedly appointed Theresa Casey as the General Counsel, after the departure of Selene Brett to Yapily. Casey, who had served as general counsel and company secretary at online retailer N Brown Group, will now be joining… Read More

UK’s Competition and Markets Authority Offers Clarification on Definition of VRPs for Sweeping

The United Kingdom’s Competition and Markets Authority has clarified what may and may not be used for when it is introduced later in 2022. The CMA mandated the use of Variable Recurring Payments (VRPs) as the mechanism for implementing Sweeping – which is described as… Read More

UK: Open Banking Tops 5 Million Users

Open Banking in the UK has topped 5 million users according to a statement by the Open Banking Implementation Entity (OBIE). The data is provided by the CMA9, the nine banks and building society mandated under the CMA Order to implement open banking in the… Read More

Roofstock Partners with Insurtech Obie to Provide Insurance in Minutes

Roofstock, a real estate investment platform, has inked a partnership with Obie, an Insurtech that will enable Roofstock users to purchase insurance “in minutes.” As many people know, purchasing a home, or investing in property, can be a laborious task. Roofstock is working to make… Read More

Open Banking Limited Board Is Looking for CEO to Lead Operations of OBIE

The Open Banking Limited (OBL) board is looking for a Chief Executive Officer who will be responsible for leading the everyday operations of the Open Banking Implementation Entity (OBIE) and its gradual transition to an organization that will be observing the Competition and Markets Authority’s… Read More

Open Banking Implementation in UK Could be Improved by Stronger Leadership, Oversight: Report

Earlier this month the United Kingdom’s Competition and Markets Authority (CMA) provided an update on the current state of open banking in the region. It comes after the release of a report from an independent investigator of allegations against the Open Banking Implementation Entity (OBIE)…. Read More

Open Banking Implementation Entity to Strengthen Governance of Organization with Non-Exec Director Role

The Open Banking Implementation Entity (OBIE) has announced that it’s looking to appoint an independent Non-Executive Director (iNED) to its Board. As mentioned in the announcement, Open Banking enables consumers and SMEs to share their bank account details in a secure manner with trusted third-parties… Read More

TechUK Responds to Competition and Market Authority’s Consultation on Open Banking

The UK has reached a key stage for the ongoing development of Open Data initiatives.  The Open Banking Implementation Entity (OBIE) is now nearing the completion of creating Open Banking guidelines and the Competition and Markets Authority (CMA) has finalized a consultation on the updated… Read More

Open Banking Implementation Entity or OBIE Introduces its Variable Recurring Payments and Sweeping Consultation Phase II

The Open Banking Implementation Entity (OBIE) has introduced its variable recurring payments and sweeping consultation phase II. The OBIE, which was created by the UK’s Competition and Markets Authority, recently released its response and has made revisions to its proposals following the initial phase of… Read More

Open Banking: SMEs in the UK are Increasingly Using Financial Data Sharing Tools following COVID-19 Outbreak, a New Survey Reveals

A new study has found that SMEs are now using Open Banking solutions a lot more frequently than before the pandemic began. Approximately half of the SMEs that took part in a recent survey claim they’re now using Open Banking services providers, according to research… Read More

Open Banking Solutions are Increasingly Being Adopted in the UK, Users Doubled to 2 Million in 6 Months

Open Banking solutions are increasingly being adopted globally and also in the United Kingdom, where user numbers have doubled to around 2 million during the past 6 months. The Open Banking Implementation Entity (OBIE), an organization established by the UK’s Competition and Markets Authority (CMA)… Read More

Open Banking Competition: More than 100 Fintechs Applied to Participate in UK’s Open Up 2020 Challenge

More than 100 Fintech companies have applied to participate in the UK’s Open Up 2020 Challenge. The firms will be competing to tap into the evolving open banking economy and a chance to win a £1.5 million prize fund. Managed by Nesta Challenges through a… Read More

Online Lender iwoca Connects to Barclays & HSBC Under Open Banking Rules

Online lender iwoca is now connected to both Barclays and HSBC under Open Banking rules, according to a note from the company. iwoca claims to be the first ever business lender to connect with any of the UK’s nine largest banks under Open Banking when… Read More

RegTech Firm NorthRow Selected By UK’s Open Banking Implementation Entity to Verify International Users

NorthRow, a regtech and compliance firm, announced on Thursday it has been chosen by the UK’s Open Banking Implementation Entity (OBIE) to verify its international users. The company reported that this move follows the successful implementation of verification processes for UK users, streamlining services for… Read More

The UK Plows Ahead in Implementing PSD2 Compliant Open Banking

On Monday, October 9, Lendit Europe, the event gathering 1000+ representatives of the international fintech and lending scene on the banks of the River Thames, opened with a presentation by Imran Gulamhuseinwala OBE, Global Head of FinTech at consultancy firm EY, who spoke about “The… Read More

Send this to a friend