What is Open Banking Implementation Entity (OBIE)?

The OBIE or Open Banking Implementation Entity is a private entity that was created by the CMA to design and implement the architecture required to deliver Open Banking in the UK. This included the APIs, data structures and security protocols that enabled developers to build the technology which allows customers to easily and securely share financial information held by their banks with third parties.

The governance, composition and budget of the OBIE are determined by the CMA. It is funded by the CMA9 and overseen by the CMA, the FCA and Her Majesty’s Treasury.

Was this article helpful?

Friendly Score UK Ltd.

52 Brook Street 1st Floor, Mayfair

London W1K 5DS

Call us on +44 20 3709 6726

Company registered in England

Company number 09168668, ICO ZA111687

VAT registration number 206 9758 80

Authorised and Regulated by the Financial Conduct Authority. (FRN: 781963)