Open Banking

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

OBL Trustee Marion King commented: “The Government’s National Payments Vision is hugely welcome, and rightfully identifies the role that open banking payments play in driving innovation and competition in payments.   There are 11m active users of open banking and the ecosystem is already worth more than £4bn to the economy. We must now seize the opportunities before us to move open banking to a sustainable, commercial model." Read more > https://lnkd.in/egubFGPg #OpenBanking #DataBill #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments

Mobile phone and broadband services are now an essential household utility alongside water, gas, and electricity. But as costs for these services increase, many consumers and businesses are keen to find better deals.  Our guide explains how open banking can offer cost savings and support faster switching. We also examine how open banking payments can help telecoms companies streamline billing and collection. Read our latest guide > https://lnkd.in/eXBiFh7z #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #Broadband #Mobilephone #Utilities #Telecoms Snoop Emma - we are hiring! Virgin Media O2 Moneyhub Vodafone Little Birdie Douglas Mackenzie Fintech Fringe Edoardo Moreni 🇺🇦 Abraham Georgakarakos

Brilliant to see the Department for Science, Innovation and Technology highlight how a smart data economy will be a key driver of wider economic growth. OBL’s Director of Standards, Strategic Policy and Public Affairs, Luke Ryder commented: “Open banking was the UK's first smart data scheme and has already delivered benefits to 11.5 million people, 1 in 5 small businesses, and supported our flourishing fintech sector. Future smart data schemes in other economic sectors – enabled by the Data (Use and Access) Bill - would give the UK economy a welcome boost, by replicating and extending the benefits we’ve seen in open banking elsewhere.” #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data Department for Science, Innovation and Technology | Department for Business and Trade | HM Treasury

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.  Read our editorial article > https://lnkd.in/eVAd5hng #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #VRPs #CVRPs #NationalPaymentsVision

The latest open banking API metrics are now available. See how the account providers' open banking APIs performed in October >> https://lnkd.in/gi_N7FZi #openbanking #MiData #openfinance #api #fintech #smartdata #payments #data

OBL Head of Payments Policy, Richard Koch, spoke at the Utility Week Forum yesterday about how the UK's utilities sector could benefit from open banking account information services for improved affordability checks for financially vulnerable consumers. He also highlighted the cost and time efficiencies offered by open banking payments, including the flexibility – for both customers and firms - of variable recurring payments, a ‘Smart Direct Debit’. #UWF24 #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #DirectDebit #VRP #Utilities Tom Luff | Harry Mayhew | Josep García Solé

OBL’s Henk Van Hulle, Marion King, and Luke Ryder were pleased to meet with Economic Secretary to the Treasury Tulip Siddiq MP today about the opportunities for open banking to unlock economic growth, and how it paves the way for open finance and other smart data schemes. The EST recently highlighted the Government’s support for open banking in the National Payments Vision, and aims to ensure regulation enables firms in the UK's vibrant payments and fintech sector to grow and innovate. #OpenBanking #SmartData #OpenFinance #Innovation #Fintech #DigitalInnovation #TechInnovation #Payments #Data #NationalPaymentsVision Department for Science, Innovation and Technology | Department for Business and Trade | HM Treasury

For many students, university is the first time they have to manage their own money. Blackbullion’s open banking-powered money management app helps students in higher education get to grips with their finances. The financial education platform also uses open banking eligibility checks to speed up student funding via its Funds Management System. Our case study explains how >> https://lnkd.in/ebu9DfSz #OpenBanking #SmartData #OpenFinance #Innovation #DigitalInnovation #TechInnovation #Payments #Data #Students #universities | Bud | UKCISA | Universities UK | UCAS | Prospects.ac.uk #Studentloans

OBL strongly welcomes the Government's National Payments Vision, which sets out a clear plan to deliver further innovation and competition in the UK's payments landscape. In particular, we are pleased with the recognition given to the key role that open banking can and must play in delivering this, providing benefits to consumers, businesses and the broader ecosystem. This includes the referenced opportunities to make account-to-account payments a ubiquitous payment method, as well as the support for the continuing progress in variable recurring payments. Finally, we welcome the focus placed on driving even greater cooperation and collaboration across the sector through the newly formed Payments Vision Delivery Committee, and stand ready to support this, as well as continuing our close work with policy makers and regulators to achieve the goals set out in the Vision. → https://lnkd.in/eZmzwmrF #OpenBanking #SmartData #OpenFinance #NationalPaymentsVision #Innovation #DigitalInnovation #TechInnovation #Payments #Data #MansionHouse #VRPs Department for Business and Trade | HM Treasury | Marion King | Henk Van Hulle | City of London Corporation