Open Banking and Payments APPG

First Registered: 20/05/2020 • Last updated on: 27/01/2021

Official Page

To ensure that Open Banking delivers maximum benefit and value to consumers, businesses and government; promotes effective competition and choice; reduces the cost of payments; supports innovation; and ensures that customers benefit from technological advances, and that new entrants and smaller providers can compete more fairly.

Note: All-Party Parliamentary Groups (APPGs) are informal, cross-party groups formed by MPs and Members of the House of Lords who share a common interest in a particular policy area, region or country. APPGs have no official status within Parliament.


This content was generated for your convenience by Parallel Parliament and does not form part of the official record.
Recent Documents related to Open Banking and Payments

1. Payments UK
27/11/2019 - Competition and Markets Authority (CMA)
- View source

Found: 07 June 2016 From: Payments UK CMA Retail Banking Market Investigation Payments UK 2 Thomas More

2. Payments Landscape Review: Call for Evidence
28/07/2020 - HM Treasury
- View source

Found: Payments Landscape Review : Call for Evidence July 2020 Payments Landscape

3. Baringa
27/11/2019 - Competition and Markets Authority (CMA)
- View source

Found: proposed to improve competition within the retail banking market. As a consultancy in the UK f inancial

4. TSB Bank plc
27/11/2019 - Competition and Markets Authority (CMA)
- View source

Found: respect of its investigation into the retail banking market. 2. published on 18 December 2015

5. Open Banking: banking but not as we know it?
26/01/2018 - Parliamentary Research

Found: PAPER Number 08215, 26 January 2018 Open Banking: banking but not as we know it? By Timothy Edmonds

Latest Documents
Recent Speeches related to Open Banking and Payments

1. Financial Exclusion
04/07/2018 - Lords Chamber

1: face-to-face banking services and free access to cash. The Government recognise that banking and ways of - Speech Link
2: agree that the increasing lack of face-to-face banking services, particularly in rural areas, not only - Speech Link
3: go down to 20% by 2026. As I say, the way that banking is carried out is changing. However, we recognise - Speech Link
4: of the framework agreement with post offices on banking services is that 99% of personal financial services - Speech Link
5: such as capping payday loans—those egregious payments. The Financial Conduct Authority has looked at - Speech Link
6: review of and consultation on cash and digital payments in the new economy. That is precisely the type - Speech Link

2. Financial Exclusion: Access to Cash
21/05/2019 - Westminster Hall

1: misalignment of incentives between individual banking institutions seeking to shed their costly physical - Speech Link
2: ensure more free cash machines supported by the banking system, which I hope the Treasury will take on - Speech Link
3: wholesale cash infrastructure, to make digital payments an option for everyone and to ensure joined-up - Speech Link
4: digital options; they are scared of using phone banking, and sometimes do not have the mobile signal that - Speech Link

3. Banking Sector: Fraudulent Accounts
05/12/2017 - Westminster Hall

1: House has considered fraudulent accounts and the banking sector.It is an absolute pleasure to serve - Speech Link
2: fraud across payment cards, remote banking and cheques to banking customers and share- holders was more - Speech Link

4. Banking Services (Post Offices)
02/03/2021 - Commons Chamber

1: place a duty on major high street banks to provide banking services in post offices; to make associated provision - Speech Link

5. ATM Closures
04/12/2018 - Westminster Hall

1: see the dilution of ATMs? A filling station might open with an accompanying shop and ATM, but the ATMs - Speech Link
2: would leave one in 10 people struggling to make payments, and would shut many consumers out of local shops - Speech Link
3: past six months? Moving to contactless payments or online banking is not an option available to them. - Speech Link
4: ban ATM charges and protect access to cash, the Banking (Cash Machine Charges and Financial Inclusion) - Speech Link
5: protecting access to cash and reducing charges, the Banking (Cash Machine Charges and Financial Inclusion) - Speech Link
6: Fillans, who was told to “nip to Perth” to do her banking. That is a journey of 50-plus miles that would - Speech Link

6. Poverty Premium
10/09/2018 - Lords Chamber

1: direct debits et cetera—are cheaper than cash payments. I am afraid that this assertion is wrong. Non-cash - Speech Link
2: progress. That system works far better than leaving it open for someone to pounce on a vulnerable person, who - Speech Link
3: retailers become more comfortable with contactless payments. I am not decrying the advantages, relating to - Speech Link
4: the doors are closed.So how do you break open the doors and bring about a change in somebody’s - Speech Link
5: just concluded a consultation on cash and digital payments in the new economy. Perhaps the Minister can tell - Speech Link
6: a position of extreme disadvantage when making payments. The advantages of direct debit, of not having - Speech Link

7. Bank Branch Closures
18/03/2020 - Westminster Hall

1: Many of my comments calling for banks to remain open are therefore very much inclined towards the time - Speech Link
2: to financial services and advice, alongside the banking services that he described, is particularly important - Speech Link
3: people. It is a lifeline. It is fair to say that banking habits have changed and the Loanhead branch, like - Speech Link

8. Immigration Act 2014 (Current Accounts) (Excluded Accounts and Notification Requirements) Regulations 2016
12/12/2016 - Grand Committee

1: certain accounts and prevent continued access to banking for known illegal migrants. The 2016 Act also delegated - Speech Link
2: accruing savings and not for day-to-day transactional banking, but which may provide some of the functionality - Speech Link
3: held in those accounts. Information about regular payments into accounts above a threshold of £200 has been - Speech Link

9. HBOS Reading: Independent Review
18/12/2018 - Westminster Hall

1: supposedly there to compensate the victims, to minimise payments and perpetuate the cover-up. Incredibly, our system—our - Speech Link
2: whose business went under through the Lloyds Banking Group. He has mentioned public bodies, including - Speech Link
3: I do agree. The sector is so far away from the banking sector that we need that fundamental reform is - Speech Link
4: building of several houses. He maintained his payments and fulfilled the terms and conditions of the - Speech Link
5: all the terms and conditions and maintained his payments, yet he has no recourse. I take the point about - Speech Link
6: Sally Masterton, a senior risk officer at Lloyds Banking Group, on the instructions of her line manager - Speech Link
7: but it chose not to. Why it chose not to is an open question.The basic assumption of this review - Speech Link

10. Banks: Fraud Prevention
20/05/2019 - Lords Chamber

1: has already delivered on initiatives such as the banking protocol, which prevented £38 million falling into - Speech Link
2: be introduced later this year for larger payments and payments where the banks think that there is a risk - Speech Link
3: it seems that it is too easy, in some cases, to open a bank account. That account is then emptied instantly - Speech Link

Latest Speeches
Recent Questions related to Open Banking and Payments
1. Bank Services: Standards
asked by: Adam Afriyie
13/06/2019
... what key performance indicators his Department uses to assess the performance of Open Banking; and what recent assessment he has made of the performance of Open Banking.

2. Financial Services: Disclosure of Information
asked by: Chi Onwurah
21/12/2017
... what plans the Financial Conduct Authority and Open Banking Implementation Entity have to ensure that financial data aggregation platforms that are not defined as Account Information Service Providers can gain direct access to the standardised open banking application programming interfaces.

3. Pensions: Consumer Information
asked by: Lord Tyrie
06/02/2020
... including the processes for customer authentication.

4. Bank Services
asked by: Chi Onwurah
19/10/2017
... what steps the Government is taking to allow (a) bank customers and (b) customers of open banking services greater control over their banking data.

5. Financial Services: Disclosure of Information
asked by: Chi Onwurah
21/12/2017
... what discussions his Department has had with the Financial Conduct Authority and the Open Banking Implementation Entity on ensuring that financial data aggregation platforms that are not defined as Account Information Service Providers can gain direct access to standardised open banking application programming interfaces.

Latest Questions
6 Current APPG Officers
Earl of Lindsay Portrait
Earl of Lindsay
Vice Chair
Conservative - Excepted Hereditary
Joined: 20th May 2020
Lord Cromwell Portrait
Lord Cromwell
Vice Chair
Crossbench - Excepted Hereditary
Joined: 20th May 2020
Simon Fell Portrait
Simon Fell
Vice Chair
Conservative - Barrow and Furness
Joined: 20th May 2020
Lord Sharkey Portrait
Lord Sharkey
Treasurer
Liberal Democrat - Life peer
Joined: 20th May 2020
Contact Details

Registered Contact:

Mr Ian Liddell-Grainger MP, House of Commons, London, SW1A 0AA. Tel: 020 7219 8149.

Email: ianlg@parliament.uk

Public Enquiry Point:

Leora Kent, Grayling, 8th Floor, Holborn Gate, 26 Southampton Buildings, London WC2A 1AN. Tel: 020 3861 3759

Email: leora.kent@grayling.com

Secretariat:

Grayling acts as the group's secretariat. https://www.grayling.com/uk/en

Benefits in Kind
Date
5 Feb 2020
Source
Grayling
Description
Secretariat   From : 05/02/2020 To : 04/02/2021
Value
£9,001

No direct financial benefits are on record for the Open Banking and Payments APPG