RETAINED COMMUNICATIONS AND PUBLIC AFFAIRS SUPPORT
Open Banking Implementation Entity (OBIE), was established through a Competition and Markets Authority (CMA) regulatory order to boost competition and innovation in retail banking. This provided an architecture for personal banking data held by high street banks to be shared with other financial services providers, including FinTechs. H/Advisors Cicero is OBIE’s retained communications and public and regulatory affairs agency, with the objective of supporting OBIE through a period of intense change and challenge.
H/Advisors Cicero provided completely integrated communications advice, including crisis comms, media relations and public and regulatory affairs. This helped the leadership of OBIE steady the ship after a period of intense disruption and uncertainty and remain focused on the delivery of the CMA’s order.
Despite the many challenging scenarios faced during our continuing engagement with the OBIE, the organisation is very well positioned to see Open Banking achieve its full potential. Our agile approach to communications is shaped by an ability to call on technical experts spanning public affairs, crisis communications and in-house research and campaigns professionals, at a moment’s notice. This enables our clients to contend with the unforeseeable and move their planned agenda forward simultaneously. It is this ability that helped place OBIE in the position it is today.Adam Taylor, Managing Director, H/Advisors Cicero.
OBIE is a significant success in the rollout of open banking and is positioned as a likely candidate in the next steps around open finance and smart data.