Open Banking Ltd, operating as the Open Banking Implementation Entity (OBIE), was established by the UK's Competition and Markets Authority (CMA) in 2016. Its primary mission is to design the specifications for the Application Programming Interfaces (APIs) that UK banks and financial institutions use to securely share data, in line with the Second Payment Services Directive (PSD2). By creating and maintaining these open standards, OBIE aims to drive competition, innovation, and transparency in UK financial services, empowering consumers and small businesses with more control over their financial data and enabling a new ecosystem of fintech applications and services.

Founded in

Australia