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Open Bank history
Open Bank company history timeline
Our story began on June 10, 2005, as First Standard Bank, a California state- chartered bank headquartered in Los Angeles, California.
The bank was established on June 10, 2005 as First Standard Bank as a California state-chartered bank headquartered in Los Angeles, California.
Do you still remember it? Nevertheless, the interface was not an outright flop - it was only finally shut down in 2005, long after the official end of screen text.
In the UK, meanwhile, the devastation wrought by the 2007 financial crisis not only led to the deepest recession ever experienced in the UK, but was also a spark to reform the banking system, which had been saved from collapse by billions of pounds of taxpayers' money.
The bank changed its name to Open Bank in October 2010.
In 2011, the Federal Cartel Office and the European Cartel Office intervened to prevent discrimination against competitors who are independent of banks.
Before that, however, came the Midata initiative, first announced in 2011, a government-orchestrated scheme helping Britons download their current account transaction data and put it into online tools to increase bank switching.
Federal Reserve Bank of New York.“The Founding of the Fed.” Accessed September 20, 2013.
However, experts noticed that the Open Banking Implementation Entity (OBIE), set up in 2016 to increase competition in the banking sector, pointedly referenced learnings from Midata in creating open banking, as it’s known today.
SIA "Nordigen Solutions" ir noslēdzis 07.09.2017. līgumu Nr*.*SKV-L-2017/451 ar Latvijas Investīciju un attīstības aģentūru par atbalsta saņemšanu pasākuma “Starptautiskās konkurētspējas veicināšana” ietvaros, ko līdzfinansē Eiropas Reģionālās attīstības fonds.
In March 2018, the bank announced the launch of its initial public offering of common stock by offering 2,000,000 shares.
Min Kim, chief executive officer of the bank, rang the closing bell at the NASDAQ on April 6, 2018.
As of January 2021, more than 2.5 million UK customers and businesses use Open Banking for money-management, making payments and accessing credits and loans.
Want to keep going? Read the full feature in AltFi’s Open Banking State of the Market Report 2022, out now!
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Zippia gives an in-depth look into the details of Open Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Open Bank. The employee data is based on information from people who have self-reported their past or current employments at Open Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Open Bank. The data presented on this page does not represent the view of Open Bank and its employees or that of Zippia.
Open Bank may also be known as or be related to Open Bank.