Overview
The UK's CMA Order required the nine largest banks (CMA9) to implement open banking APIs. The OBIE developed standardized APIs and established the framework. Now transitioning to Open Banking Ltd and expanding to Variable Recurring Payments (VRP).
Note: World leader in Open Banking adoption. Over 7 million users. VRP mandate for sweeping expanded in 2023.
Jurisdiction
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Scope & Coverage
This regulation covers the following areas and services:
Key Requirements
Timeline
Official Resources
Related Regulations
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