Saturday was a big day for us at Handle and the UK as a whole. The first Open Banking API’s went live, ushering in a new era for banking and financial services in the UK!
At Handle, we’ve been working hard in the run-up to the 13th January deadline and I’m thrilled to say the teams' hard work has paid off, as we were THE FIRST third-party provider (TPP) in the world to be FCA authorised and fully registered with the Open Banking directory.
It means over the weekend we worked closely with the Open Banking Implementation Entity (OBIE) to test their enrolment process and complete onboarding of the banks.
As the first registered business, we hit the ground running Monday morning connecting to the banks which met with the 13th January deadline. In parallel we have been selected to be part of a select group of companies supporting the banks that have missed the deadline, participating in the managed roll out phase running between now and 28 February.
Over the coming weeks, we’ll be working with all of the 9 largest UK banks ensuring every banks API is stable and functioning correctly. We have already spent the New Year period working with the banks who've produced mature APIs to conduct extensive building and testing of our connectivity, and we're extremely pleased to say that we’ve already proven full connectivity.
Over the coming months, we'll be working to create a tool that enables small businesses to actively manage their finances. If you want to find out more about the Handle beta test, check out this post.
If there are any questions about the Handle or our work with the OBIE, feel free to get in touch with us at [email protected].