Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, which regulator will be responsible for monitoring the performance of the standardised Open Banking Application Programme Interfaces; and how that regulator plans to undertake that monitoring.

The standardised Open Banking Application Programme Interfaces (APIs) are being introduced as a result of the Competition and Market Authority’s (CMA) Retail Banking Market Investigation Order 2017.

The CMA is responsible for monitoring and enforcing compliance with this Order, including the performance of the APIs. The Open Banking Implementation Entity will assist the CMA in delivering this function.