Crosswell promises to learn from past mistakes at the OBIE

Crosswell promises to learn from past mistakes at the OBIE

Charlotte Crosswell, the new chair of the UK's Open Banking Implementation Entity, has pledged to "learn from past mistakes" as she takes over from former incumbent Imran Gulamhuseinwala, who quit his post last week after an independent investigation found that leadership failures at the OBIE "allowed a culture of bullying and intimidation".

Crosswell takes over at a pivotal moment for the future of the Open Banking guidance body, which faces an uncertain future as the country plots a course to a wider framework dubbed Open Finance.

Says Crosswell: “With the CMA (competition and Markets Authority) soon to announce next steps towards the model for the future governance of open banking we are at a key inflection point, and I hope this will give us greater clarity and enable us to implement fully the kind of leadership, governance and structure, alongside a supportive, diverse and inclusive culture, that is vital for a progressive and permanent organisation.”

The first task confronting her will be the appointment of new Non-Executive Directors to the OBIE board to give appropriate independent scrutiny and oversight.

"There is absolutely no scope for complacency," says Crosswell. "Under my leadership we will commit to working to ensure that there is no repetition of any failings and inadequacies, historical or otherwise. Simply put, what happened was unacceptable and can’t happen again."

Comments: (1)

Andrew Smith
Andrew Smith - RTGS & ClearBank - London 11 October, 2021, 17:22Be the first to give this comment the thumbs up 0 likes

Hopefully, additional learnign will be that a world of "direct APIs" is not efficient nor feasable when we look to scale the concepts of Open Banking out - either to additional banks and financial service providers or to Open Finance. We should also re-think the entire model of "giving others my bank access tokens". This really shouldnt be the way busineses consume data from my bank account....