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Open Banking Excellence launches 'Open Banking in a Box'

Source: Open Banking Excellence

Open Banking in a Box, a new programme from Open Banking Excellence (OBE), is leveraging the UK’s position as the world leader in open banking to help regulators globally develop their own open banking markets.

The programme gives access to invaluable insights, expertise and practical advice honed from the UK’s experience in creating the blueprint for open banking. This provides the building blocks for regulators globally to drive transformational change in their own countries.

This proven programme makes it simpler and faster for regulators to shape and implement their domestic open banking and open finance frameworks and policies. Helping reduce costs and enabling them to positively impact their citizens and economy drives a fairer and more inclusive society.

By accessing OBE’s global community of top-tier talent and market expertise, Open Banking in a Box can match the right capabilities and skill sets to each project, sharing best practices to fast-track open banking development. By better understanding the challenges the UK faced and the lessons learned, regulators globally can make more informed choices that lead to a thriving and sustainable ecosystem.

With the UK government continuing to support the UK’s broader fintech environment and promote open banking innovation, Open Banking in a Box will champion the UK’s world-leading open banking standards and make the case for greater cross-border interoperability that will benefit UK PLC and support financial inclusion globally.
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Open Banking in a Box has been carefully curated for regulators, central banks, policymakers and other market participants to support national capacity-building efforts and ecosystem development through a combination of regulatory and industry engagement, high-level policy development and project resourcing and knowledge transfer.

Open Banking in a Box will also provide a combination of strategic and operational workshops covering topics such as open banking use cases, operating models, monetisation, and support in growing a thriving open banking ecosystem. OBE provides support at each phase of a country’s open banking journey.

Helen Child, Founder and CEO at Open Banking Excellence (OBE), said: “We’re proud to fly the flag for UK open banking around the world. Our Open Banking in a Box programme is the very essence of what a community is—bringing together global knowledge, expertise and diversity of thought to deliver a world-class service for Regulators. In parallel, pathfinding export opportunities for UK businesses.

The UK has a vibrant marketplace and the best use cases in the world to share. We believe in shaping a regulatory narrative highlighting the importance of a use case-driven approach.

Location, location, location! The well-known phrase, emphasises the importance of getting the fundamentals in place when building or buying a house. I’ve learned that thriving open banking & finance ecosystems are built on the foundations of use case, use case, use case! It all starts with the use case and comes back to the use case. It’s your North Star.

We continue to leverage the UK’s leadership position in open banking, sharing the lessons learned to create thriving ecosystems, enabling economies and citizens around the world to have more control over their finances.”

OBE is keen to create more market momentum with its Open Banking in a Box programme by sharing case studies with regulators and engaging with UK businesses to fly the flag around the world.

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