CMA: Publishes findings of ‘Lessons Learned’ review into Open Banking
- CMA has published the findings and recommendations of a review by Kirstin Baker
- Open Banking was introduced following the Retail Banking Market Investigation, which set out a blueprint
- The UK is a global leader in this area and it is estimated that half the UK’s small businesses
- The investigation concluded that the then Trustee of the OBIE had not ensured that the organization
- It also found that a lack of appropriate corporate governance had contributed directly to those organizational failings
- Subsequently, the OBIE has strengthened its governance through the appointment of independent non-executive directors
