UK Open Banking Implementation Entity

The UK Open Banking Implementation Entity (OBIE) is an organization established to develop and manage the framework that allows authorized financial services providers to securely share banking data and initiate payments. Its goal is to foster innovation, competition, and better services by enabling customers to access their financial information and use third-party apps safely. OBIE creates the technical standards and rules that banks and fintech companies follow, ensuring seamless and secure integration across the banking system, ultimately giving consumers more control and options over their financial data and services.