BankingBusiness

OBIE: Launches Variable Recurring Payments and Sweeping Consultation

  1. OBIE launched consultations on Variable Recurring Payments and Sweeping this represents the next stage in the development of open banking in the UK
  2. Variable Recurring Payments (VRPs) allow customers to safely connect authorized payments providers to their bank account
  3. Sweeping the automated movement of funds for a customer between two accounts in their name
  4. The OBIE welcomes responses to the consultation from all interested parties
  5. The first phase of the Consultation Process will take place between 9 November and 4 December 2020
  6. The Open Banking Implementation Entity (OBIE) created by the CMA to deliver
    the Application Programming Interfaces (APIs)
Previous article
Nacha: Announces First Live Transactions on the Phixius Platform
Next article
Antisense Therapeutics: Raises $7.3M for DMD treatment
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Business Banking Fintech Slash Reaches Unicorn Status

The fintech startup achieves a valuation of over $1 billion.Highlights: Slash has been valued at over $1 billion.The...
FinTech

Amex Strengthens Digital Services with AI Expense Management Acquisition

American Express to acquire Hyper to enhance its business offerings.Highlights: American Express announces the acquisition of AI startup...
FinTech

UK Banks Strengthen Cybersecurity with Anthropics Mythos Model

New collaboration enhances banks' defense against cyber threats.Highlights: UK banks to access Anthropics Mythos model in the upcoming...
FinTech

UK Banks to Gain Access to Anthropic Cybersecurity Model Next Week

New collaboration enhances cybersecurity for UK banking institutions.Highlights: UK banks set to access Anthropic's cybersecurity model soon.Collaboration aims...