- OBIE launched consultations on Variable Recurring Payments and Sweeping this represents the next stage in the development of open banking in the UK
- Variable Recurring Payments (VRPs) allow customers to safely connect authorized payments providers to their bank account
- Sweeping the automated movement of funds for a customer between two accounts in their name
- The OBIE welcomes responses to the consultation from all interested parties
- The first phase of the Consultation Process will take place between 9 November and 4 December 2020
- The Open Banking Implementation Entity (OBIE) created by the CMA to deliver
the Application Programming Interfaces (APIs)
