What is Open Banking Implementation Entity (OBIE)?

The OBIE or Open Banking Implementation Entity is a private entity that was created by the CMA to design and implement the architecture required to deliver Open Banking in the UK. This included the APIs, data structures and security protocols that enabled developers to build the technology which allows customers to easily and securely share financial information held by their banks with third parties.

The governance, composition and budget of the OBIE are determined by the CMA. It is funded by the CMA9 and overseen by the CMA, the FCA and Her Majesty’s Treasury.