Ozone API Launches a Guide to the UK’s Latest Open Banking Standards

Global open banking leader Ozone API has launched a guide to the OBL’s updated UK open banking standards, aimed to support CMA9 banks, non-CMA-9 stakeholders and third-party providers (TPPs) through the transition. The changes, termed OBL version 4.0 (OBLv4), were announced by the OBL in early July. OBLv4 includes mandatory changes for the UK’s CMA9, with some updates to be completed by as early as 31st December 2024. The proposed changes have been triggered by several critical events, including the deprecation of key security standards due on 31st March 2025 and the Bank of England publishing mandatory changes to data protection standards. Ozone API’s guide breaks down the key changes, including:

•       A detailed summary of the features being upgraded and enhanced, and the API updates in OBLv4
•       Compliance and implementation deadlines for the CMA9 and non-CMA9 institutions
•       How to ensure a smooth transition, both to the updated standards and anticipating future regulatory changes in the UK.

You can find out more and access the guide here.