As of January this year, about 10% of U.K.’s population is using open banking services. The number of active users crossed the 7 million mark around the same time the country celebrated the fifth anniversary of adopting open banking regulation. A recent report published by Open Banking Limited (OBL) shows that...
The UK’s competition authority has announced the near completion of the country’s open banking roadmap. In a statement released on Thursday (Jan. 12), the Competition and Markets Authority (CMA) said that the six largest banks in the U.K. have successfully delivered the requirements of open banking as...
More than 6 million individuals and businesses in the United Kingdom regularly use open banking services, the U.K.’s Open Banking Implementation Entity (OBIE) announced in a newly-released report. OBIE is a standards-setting body for the sector, and it releases an open banking report twice a...
In July 2021, the U.K. Competition and Markets Authority (CMA) mandated the use of variable recurring payments (VRPs) as a mechanism to allow the automatic transfer of money between a customer’s own accounts (known as Sweeping). Sweeping was one of the remedies adopted in 2017...
May 17, 2023
Obie has raised $26 million in Series B funding to expand its embedded insurance offering for real estate investors. The firm will use the new funding to add new partnerships and products, Obie said in a Wednesday (May 17) press release. “We’re excited to have the ongoing support of our investors as we continue to build insurance […]
January 13, 2023
The UK’s competition authority has announced the near completion of the country’s open banking roadmap. In a statement released on Thursday (Jan. 12), the Competition and Markets Authority (CMA) said that the...
June 22, 2022
More than 6 million individuals and businesses in the United Kingdom regularly use open banking services, the U.K.’s Open Banking Implementation Entity (OBIE) announced in a newly-released report. OBIE is...
February 17, 2022
More than 5 million people in the U.K. use open banking services, the country’s Open Banking Implementation Entity (OBIE) announced Thursday (Feb. 17). That figure comes from data provided by...
