Press Releases

Open Banking Limited welcomes Claudio Pollack as an independent Non-Executive Director

16 March 2023
press release

Open Banking Limited (OBL) today announced that Claudio Pollack has been appointed to the Board as an independent Non-Executive Director (NED).

Claudio brings significant regulatory, competition and consumer policy expertise to the OBL Board. His appointment will strengthen the organisation as it continues to prepare for transition.

Previous positions include over a decade at Ofcom, the UK’s telecoms regulator, as well as being a part of the team at alternative telecommunications provider Cable and Wireless, which led efforts to ensure obstacles to competition and innovation in the sector were tackled.

Current roles include Chair of the One Touch Switching Company and advising on policy and advocacy in regulated industries through Abberton Consulting. Clients have included the Payment Systems Regulator (PSR) and Financial Conduct Authority (FCA).

Commenting on his appointment, Marion King, OBL Chair and Trustee said:

“I am delighted to welcome Claudio. His considerable experience will be invaluable to the Board as we navigate the future development of open banking in the UK, and transition to a Future Entity.”

Claudio Pollack said:

“My career to date has been focused on working to ensure that regulated markets deliver on their intended outcomes for consumers and businesses. I am therefore delighted to be joining OBL at such a pivotal time, where building on the momentum achieved to date will be essential to open banking’s future success.”

Notes to editors:

1. Open Banking Ltd (OBL) was set up by the CMA9 in September 2016 as required under the Competition & Markets Authority’s (CMA) Retail Banking Market Investigation Order 2017 to fulfil one of the remedies mandated by the CMA following a market investigation into UK retail banking.

2. The CMA’s investigation into the retail banking market (whose findings were published in August 2016) concluded that older and larger banks do not compete hard enough for customers’ business and that open banking should deliver a new, secure option for customers to be able to compare the deal they are getting from their bank.

3. OBL’s role is to: 

• Enforce the obligations on the CMA9 under the CMA Order.

• Design the specifications for the Application Programme Interfaces (APIs) that banks and building societies use to securely provide Open Banking.

• Support regulated third party providers and banks and building societies to use the OBIE’s Open Banking Standards.

• Create security and messaging standards.

• Manage the OBIE’s Open Banking Directory which allows regulated participants like banks, building societies and third-party providers to enrol in Open Banking.

• Produce guidelines for participants in the Open Banking ecosystem.

• Set out the process for managing disputes and complaints.

OBL spokespeople are available on request.

For enquiries, please contact: CiceroOpenBankingPR@cicero-group.com, 020 7297 5965