The Future is Open: Navigating the Future of Open Banking

This new report, from global professional services firm, Alvarez & Marsal, features insights from OBL Trustee, Marion King, and industry experts on the next steps needed to ensure open banking’s continued success.

These include commercial variable recurring payments, the diversification of ‘open’ financial data and cross-border data portability.

Citizens Advice uses PayPoint and AperiData financial support tool to speed up debt assessments

Citizens Advice helped 2.5m people with support in 2024, including advice on debt and money management.

Its Stevenage team used PayPoint and AperiData’s FIS Customer Support Tool to speed up financial assessments, enabling advisers to offer advice faster, reduce the number of clients who drop out of support, and helping build financial resilience.

OBL launches public consultation on the multilateral agreement for cVRPs

We are pleased to publish the public consultation on the Commercial Variable Recurring Payments (cVRP) Multilateral Agreement (MLA).      

We have published this alongside the draft documents that make up the MLA for cVRPs, and we welcome written responses from the industry.  

Please submit your feedback by 28 February.

FEBRUARY HIGHLIGHTS

“Providing consumers with easier access to their data and the ability to share it with third parties can drive competition and innovation in different economic sectors.

The announcement of the Data (Use and Access) Bill last year signalled clear intent from the Government about the importance of building on open banking’s data sharing principles to deliver a smart data economy that the Department for Science and Technology estimates is worth £10 billion over 10 years.”
Henk Van Hulle, OBL CEO

Simplify switching products and services with Smarter Contracts’ Pulse protocol

Switching products and services can help consumers make valuable savings on financial products and services – like finding better interest rates or savings accounts – but this takes time and effort. Smarter Contracts’ Pulse™ protocol aims to simplify data permissions for companies and consumers – and make switching as pain-free as possible.