Open banking futures: blueprint and transition plan

This report, written in association with Baringa, makes detailed proposals for the Open Banking Implementation Entity (OBIE) to transition to a new service company which will support the UK's world-leading open banking infrastructure.   

The proposed service takes into account the requirements made by the CMA of the UK's largest nine banks, known as the CMA9, the reliance of other firms on OBIE to meet their PSD2 obligations and also ensures there is room for flexibility to accommodate changes resulting from Open Finance and Smart Data. The service company will provide a set of service capabilities which meet the needs of the Open Banking ecosystem and help ensure its stability and resilience. These include managing the centralised OB directory, maintaining technical standards and enabling future improvements.  

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