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#Open Banking Regulations in United Kingdom
Regulations applicable to financial institutions operating in United Kingdom
#Banks & Financial Institutions in United Kingdom
Open Banking in United Kingdom: FAQ
Yes, the UK is a global leader in Open Banking. Since 2018, the nine largest UK banks have been required to provide Open Banking APIs under the CMA's Open Banking Initiative. United Kingdom has one of the most mature Open Banking ecosystems in the world.
The table above lists all banks and financial institutions in United Kingdom tracked by Open Banking Tracker, along with their API availability, sandbox status, and compliance information. Banks with a "Developer Portal" link offer documented APIs for third-party integration.
The easiest way to connect to banks in United Kingdom is through an API aggregator like Plaid, Tink, TrueLayer, or other providers that offer coverage in this market. These aggregators provide a single integration point to access multiple banks. Alternatively, you can integrate directly with individual bank APIs through their developer portals.
The UK operates under the Open Banking Implementation Entity (OBIE) standards and the Payment Services Regulations 2017 (UK's implementation of PSD2). The FCA regulates all Open Banking participants in the UK.
PSD2 (Payment Services Directive 2) is EU legislation that requires banks to open their payment infrastructure to licensed third parties. In United Kingdom, this means banks must provide APIs for account information and payment initiation services. PSD2 also introduced Strong Customer Authentication (SCA) requirements for secure transactions.