The former president of Mastercard UK and ireland, Marion King, has been appointed to suceed Charlotte Crosswell as chair and trustee of the Open Banking Implementation Entity.
Before joining the OBIE, king was director of payments at NatWest Group and president of MasterCard UK and Ireland. Prior to that she was the chief executive officer of VocaLink.
Her key priorities will include the protection of ongoing CMA Order requirements and the consideration and potential implementation of the Joint Regulatory Oversight Committee’s decisions on the future long-term regulatory framework for Open Banking in the UK.
The Joint Regulatory Oversight Committee (JROC), a cross-authority taskforce convened by the Competition and Markets Authority in March, was established to build on the progress of open banking under a new regulatory regime that will sunset the the Open Banking Implementation Entity (OBIE) in favour of a new body, with a more broadly-based funding and governance mode.
Says King: “Open banking is a UK success story and exemplifies the very best of UK innovation and entrepreneurship, providing benefits to over 6.5 million consumers and small businesses.
“We cannot afford to be complacent and must work with and support the ecosystem, policymakers, and regulators to ensure the UK remains internationally competitive and innovative.”
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://www.finextra.com/newsarticle/41657/marion-king-takes-over-chair-at-open-banking-implementation-entity?utm_medium=rssfinextra&utm_source=finextrafeed
- a
- advice
- and
- appointed
- authority
- Banking
- barriers
- Beginning
- benefits
- BEST
- body
- build
- businesses
- cannot
- centre
- Centre for Finance
- Chair
- Charlotte
- Charlotte Crosswell
- chief
- chief executive officer
- CMA
- committee
- competition
- Competition and Markets Authority
- competitive
- consideration
- Consumers
- created
- decisions
- Director
- ecosystem
- ensure
- entity
- entrepreneurship
- established
- executive
- Executive Officer
- exemplifies
- finance
- Finextra
- fintech
- Former
- Framework
- funding
- future
- governance
- Group
- Growth
- HTTPS
- implementation
- in
- include
- Innovation
- Innovation and Technology (CFIT)
- innovative
- internationally
- ireland
- joining
- joint
- Kalifa Review
- Key
- King
- long-term
- March
- Markets
- mastercard
- million
- Mode
- more
- NatWest
- New
- Officer
- ongoing
- open
- open banking
- Open Banking Implementation Entity
- order
- organisation
- Oversight
- payments
- plato
- Plato Data Intelligence
- PlatoData
- policymakers
- Post
- potential
- president
- Prior
- Progress
- protection
- providing
- regime
- Regulators
- regulatory
- remains
- Requirements
- review
- small
- small businesses
- Step
- Story
- success
- success story
- Sunset
- support
- Take
- takes
- Technology
- The
- The Future
- the joint
- the UK
- to
- Trustee
- Uk
- under
- will
- Work
- zephyrnet