Partnering with Open Banking Limited to Drive Innovation and Compliance in the UK Retail Banking Sector

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.