Більше про участь
Contact Us

Driving Innovation and Compliance with Open Banking Limited in UK

Open Banking Limited’s Objective: OBL’s mission is to create a secure and simple way for consumers and businesses to manage their money by opening up the financial ecosystem, encouraging participation to create opportunities for innovation and collaboration.
The Challenge
  • OBL authors and maintains the UK API standard and ecosystem guidelines to enable companies to meet their obligations under the second Payment Services Directive (PSD2) for the provision of open banking services.
  • OBL sought a partner to deliver a Model Bank platform enabling them to  oversee the implementation of these standards and keep them updated as the ecosystem evolved.
The Solution

OBL chose to partner with Ozone API

Because we:

  • Provide  deep technical and regulatory expertise  
  • Deliver a Model Bank platform where ecosystem participants including CMA9 can test and learn
  • Share  the vision to advance the UK’s open banking agenda to increase financial inclusion and literacy
  • We’ve delivered 10+ UK Open Banking Standard versions, consistently leading with updates.
The Results
  • An exceptional partnership enabling successful implementation and evolution of the UK Open Banking Standard.
  • Ozone API’s innovation and excellence helped OBL meet CMA Order objectives while promoting competition and transparency in UK retail banking.

Open Banking Limited (OBL), formerly known as the Open Banking Implementation Entity (OBIE), was established by the UK’s Competition and Markets Authority (CMA) to implement the CMA Order, a directive aimed at driving competition, fostering innovation, and enhancing transparency within the UK retail banking sector. OBL plays a pivotal role in developing the UK Open Banking Standard and providing the essential infrastructure that underpins the daily operation of Open Banking in the UK.

Ozone API’s deep expertise and passion for innovation and excellence made us the ideal partner to bring this vision to life by powering the OBL model bank.  The OBL model bank provides a critical testing ground for banks and financial institutions, enabling them to experiment with and refine their API implementations in a controlled and secure environment. It serves as a vital resource for banks, fintechs, and other TPPs by providing a safe space to develop and test their APIs in alignment with the latest standard.

More than just a technology provider, we helped OBL to implement over 10 versions of the UK Open Banking Standard to ensure that the ecosystem remained compliant, flexible, and forward-thinking. Our expertise allowed OBL to stay ahead of regulatory changes and market demands, enabling them to deliver an evolving, high-performance ecosystem for the UK’s banks and fintech companies.

We are extremely proud of our well established partnership with OBL. Together we’ve built a robust infrastructure that supports the everyday running of Open Banking in the UK. By combining our passion for innovation with OBL’s strategic vision, we’ve helped create an open banking ecosystem that drives competition, delivers transparency, and fuels innovation across the financial sector.

Henk Van Hulle, chief executive officer of Open Banking Ltd, said: “Open Banking Limited is not only committed to maintaining the Open Banking standard, but also supporting the ecosystem by helping participants with their journey to version 4.0.

 

Open Banking Limited is not only committed to maintaining the Open Banking standard, but also supporting the ecosystem by helping participants with their journey to version 4.0. This includes upgrading the model bank to v4.0 to provide as much support and coverage to participants as possible, including the FCS, standards and technical guidance.

Henk Van Hulle
chief executive officer of Open Banking Ltd

Interested in becoming
a client or partner

Join us on our mission to accelerate open finance and unlock the potential for your customers.

Get in touch
Ozone API in partnership with Smart Data Foundry

We use cookies to personalize your experience. By using our website, you agree to the use of cookies as described in our cookie policy.

Accept all