OBL director Alan Ainsworth departs after six-year tenure
Alan Ainsworth has brought to an end his six-year tenure at the UK’s Open Banking Ltd (OBL).
Alan Ainsworth leaves OBL (Image: LinkedIn)
Formerly known as the Open Banking Implementation Entity (OBIE), OBL was launched in early 2018 on the initiative of the Competition and Markets Authority to proliferate open banking capabilities among UK-based banks and their customers.
The organisation’s core remit pertains to the creation of open banking-enabling APIs and the installation of both governance structures and data standards that together seek to ensure the success of open banking within the UK market.
Ainsworth first joined the organisation in April 2018 and initially served as its head of policy for four years before transitioning into the role of strategy, standards and policy director in April 2022.
Also serving as a member of its executive committee, Ainsworth says he was responsible for open banking’s policy development, as well as guiding the succeeding entity to the OBIE throughout 2022 and 2023.
Confirming his departure – effective this month – via LinkedIn, Ainsworth writes that “it’s now time for something else”.
Reflecting on the OBL’s achievements during his tenure, he counts “the development and implementation of a standard that includes app-to-app authentication, refunds, variable recurring payments and user experience (UX) guidelines” among the most notable highlights.
Ainsworth says he also regards the team’s work on the Strategic Working Group report, published in February 2023, and its success in increasing the number of people and businesses benefiting from open banking services, as particular career milestones.
It was reported in August that open banking had enabled 11.4 million payments in the UK by mid-2023, marking a 102.4% rise in year-to-date data.
Following his departure, Ainsworth has since embarked on a new career as an “international open finance advisor”, serving as managing director of Onniva Ltd. which, according to Companies House filings, was incorporated last month.
Speaking with FinTech Futures, the OBL confirms that it has instated its current senior policy lead, Richard Koch, as interim director of strategy, policy and standards, while it engages with executive search firm Michael Page to fill “this pivotal position”.
