UK Open Banking

Open Banking Implementation Entity (OBIE)

ActiveOpen BankingEurope

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).

🌍
Jurisdiction
United Kingdom
📅
Effective Date
2018
Jan 13, 2018
✅
Full Compliance
2019
Sep 14, 2019
🏛️
Regulator
Competition and Markets Authority

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). Implemented across 90% of the UK payments account market.

Scope & Coverage

AISPISVRPCAF

Key Requirements

1
Standardized Open Banking APIs
2
TPP directory and trust framework
3
Variable Recurring Payments (VRP)
4
Premium APIs for enhanced data

Implementation Timeline

Feb 1, 2016
CMA Retail banking market investigation published
Jan 13, 2018
CMA9 Open Banking in effect
Sep 14, 2019
PSD2 requirements in force
Jan 1, 2021
Roadmap to explore Open Finance published
Jan 1, 2024
Pension dashboards planned by UK Money and Pensions Service

API Specifications

Technical standards and API specifications for implementing UK Open Banking:

Official Documents & Resources

Key Notes

World leader in Open Banking adoption. Over 7 million users. VRP mandate for sweeping expanded in 2023.

Official Resources

Related Regulations

Other open banking frameworks in Europe:

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