OBL was pleased to be featured on BBC Morning Live today, shedding light on how open banking-powered money management apps are revolutionising the savings market and supporting millions to save more. With over 9 million active users and gaining 1 million first-time users every month, the benefits of this innovative technology are undeniable. Watch the clip >> #BBC #openbanking #moneysavingapps #gains
Open Banking
Financial Services
Helping over 11 million UK customers and businesses move, manage and make more of their money.
About us
Open Banking LTD (formerly OBIE) set up by the UK Competition and Markets Authority to create innovative technology (APIs), data standards and the governance structures enabling the UK to implement Open Banking. Open Banking drives innovation and competition in banking services and provides secure and transparent information sharing for individuals and SMEs aiming to give customers greater control of their financial data and better value.
- Website
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http://www.openbanking.org.uk
External link for Open Banking
- Industry
- Financial Services
- Company size
- 51-200 employees
- Headquarters
- London
- Type
- Nonprofit
- Founded
- 2016
- Specialties
- Banking, Financial Services, Fintech, Payments, Open Banking, Open Finance, and Smart Data
Locations
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Primary
Get directions
Dawson House, 5 Jewry Street, Aldgate, London EC3N 2EX
London, GB
Employees at Open Banking
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Fiona Hamilton
Head of Standards at Open Banking
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Andrew Siggemann
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Professor Markos Zachariadis
Professor/Chair in Financial Technology #FinTech at Alliance Manchester Business School | Director, CFTS | #WEF Council | Advisory Board @ADGM |…
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Alan Hughes
Open Banking, Open Finance and FinTech Consultant
Updates
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It’s been another busy year for open banking, so as 2024 draws to a close, we summarise some of the year’s key highlights, including hitting 11.77m open banking users, the progress of the Data Use and Access Bill, and the launch of the National Payments Vision. #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data
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Good to see the PSR's new report on preventing Authorised Push Payment (APP) scams, based on extensive research from some of the largest banking groups. The report also highlights how data sharing and industry collaboration are crucial to combating fraud, as OBL's new report, Financial Crime within Open Banking journeys, also sets out >> https://lnkd.in/eu2YX7H4 #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #Fraud #FinancialCrime
📢 New report from PSR shows how fraudsters exploit major platforms to scam consumers Hear from our Head of Policy Kate Fitzgerald below, and read our full announcement here: https://lnkd.in/eu3FwQYa
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The latest open banking API metrics are now available. See how the account providers' open banking APIs performed in November >> https://lnkd.in/gi_N7FZi #openbanking #MiData #smartdata #openfinance #api #fintech #payments #data
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OBL is pleased to publish Financial Crime within Open Banking journeys, the report for JROC Workstream 2a. Christian Delesalle, OBL Head of Participant Support, said: “We are grateful to all the companies that provided data, and those that spoke to us about fraud. This is a great base to build upon and enables us to continue to bring the ecosystem together to collaborate on the prevention of open banking fraud, particularly as the use of open banking expands. It is also reassuring to note that the ecosystem is unified in the interests of preventing fraud, and the effects of fraud on individuals, society and the UK’s economic health.” Read the report >> https://lnkd.in/eu2YX7H4 #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #Fraud #FinancialCrime Payment Systems Regulator | UK Finance | Financial Conduct Authority
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This important report from Which? makes clear the importance of consumers being at the heart of smart data schemes; and the key role the Data Bill can play in making this a reality. #OpenBanking #DataBill #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments
In December 2023, the Smart Data Council tasked Which? with determining ‘what good looks like for consumers’ in smart data trust frameworks. Today we launch our Building Trust in Smart Data policy paper https://lnkd.in/exCGKGcc Smart data gives consumers the ability to share their data between businesses and other organisations, to enable new uses of data in ways that benefit society and the economy - including the energy, banking and finance sectors. Our analysis shows that if smart data schemes are developed without the right protections in place, there is a risk of consumer harm such as: - Poor quality products and services - Lack of meaningful consent - Risk to consumer safety - Exploitation of vulnerable users Consumer control and consent is at the centre of Which?’s model for trust frameworks. By considering consumers in the design stage of smart data schemes, the risks posed to consumers are minimised, building consumer confidence and trust that is essential to realising the social and economic benefits that smart data schemes can unlock. This policy paper provides a blueprint for smart data schemes across sectors and technologies. The government’s new Data (Use and Access) Bill (DUA Bill) represents a key opportunity to strengthen the legislative framework to support consumer trust and confidence in smart data schemes. However, for this commitment to be effective beyond the Parliamentary passage of the Bill, the government through the Department for Business and Trade should take a central role in guiding the development of smart data schemes. If the Bill passes into legislation, the new powers that the government will have should be used to prevent consumer harms and support consumer trust and confidence in smart data. Image: Which?’s model for trust frameworks is supported by principles of governance, protection and scalability With Stephanie Borthwick, Principal Policy Advisor and Caroline Clayton, Senior Policy Advisor #SmartData
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At this week's OBL end of year reception, Chair and Trustee Marion King commented: "2025 is shaping up to be an exciting year - we're building something truly transformative with open banking, innovation, and smart data. The work being done now is crucial for creating an ecosystem that drives not just better consumer experiences but real economic growth. We're just getting started, and the potential is limitless." #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data AperiData | Atticus | B4NZ | Barclays | Currensea | Financial Conduct Authority | FDATA Global | FSCS | GoCardless | HSBC | Innovate Finance | J.P. Morgan | Lloyds Banking Group | Mastercard Open Banking | Nationwide Building Society | NatWest Group | Open Banking Excellence (OBE) | Open Banking Expo | Ordo | Pay.UK | The Payments Association | Payment Systems Regulator | Sage | Santander | Three UK | Token.io | TSB Bank | VoltView | Yapily
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Following the publication of the National Payments Vision, Nick Davey, OBL Head of Strategy, examines how CVRPs can transform the payments landscape for consumers, merchants and billers. He also sets out the first wave of use cases from regulated financial services to utilities; from central and local government to charity payments. #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #VRPs #CVRPs #NationalPaymentsVision
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As the UK celebrates Small Business Saturday tomorrow, Luke Ryder, OBL Strategy and Policy Director, sets out how open banking and smart data can help tackle two perennial problems for the UK’s SMEs and sole traders: late payments and access to business borrowing. Read the article >> https://lnkd.in/ekzfTf7H #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #SmallBusinessSaturday
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Blackbullion’s money management app helps students in higher education understand their finances, keep track of their student loan and build their confidence with cash. The financial education platform also offers Funds Management System which uses open banking-driven checks to source and distribute additional funding for eligible students. Our case study explains how this free service works >> https://lnkd.in/ebu9DfSz #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #Students #universities #Studentloans Bud | UKCISA | Universities UK | UCAS | Prospects.ac.uk | Vivi Friedgut | Jon Hering