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Despite rising costs and delays, senior bankers rally behind the UK’s Open Banking scheme

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Britain’s biggest lenders have poured £81.1m into the Open Banking Implementation Entity, the body charged with delivering the much-hyped data-sharing scheme.

According to data from the Competition and Markets Authority, obtained by 

 through a freedom of information request, the OBIE’s funding needs rose to £38.8m in 2018, up from £28.1m between October 2016 and December 2017.

The cost of open banking: £81m and counting

Despite rising costs and delays, senior bankers rally behind the UK’s Open Banking Implementation Entity

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