UK: built the world's first trust framework. Now extending to Smart Data.
Raidiam designed and built the trust infrastructure for UK Open Banking — the world's first trust framework. The same foundations now extend to Smart Data schemes across energy, telecoms, property, and pensions. One investment. Every sector.
The trust infrastructure built for UK Open Banking is now the foundation for cross-sector Smart Data
One investment in 2018. Now powering ecosystem expansion across every UK sector — energy, telecoms, property, pensions.
The Challenge (2016–2017)
In 2016, the Competition and Markets Authority ordered the UK's nine largest banks to open their data to authorised third parties. The Open Banking Implementation Entity (OBIE) was established to make it work. The challenge:
- 9 mandated banks plus growing third-party providers needed governed access
- A trust framework had to be designed from scratch — the first of its kind globally
- Every participant needed verified identity, dynamic client registration, and certificate management
- Security had to be financial-grade: FAPI profiles, mTLS, and certificate-bound tokens
- The ecosystem had to scale as hundreds of fintechs applied to participate
The Solution
Raidiam was selected as the technical service provider for the Open Banking Implementation Entity (OBIE). We designed and built the world's first Trust Framework for open data sharing — the Open Banking Directory, security architecture, standards specifications, and ecosystem engagement services. This was Raidiam's first solution, built before Raidiam Connect existed as a product. The experience of building trust services for the UK's open banking programme became the foundation for everything Raidiam builds today.
What we built:
- Open Banking Directory — the world's first trust framework for regulated data sharing
- Security architecture and FAPI security profiles for the UK ecosystem
- Standards specifications and ecosystem-wide technical architecture
- Dynamic client registration and certificate lifecycle management
- Conformance testing and certification framework
- Ecosystem engagement, stakeholder alignment, and implementation support
The Result
The Legacy
UK Open Banking proved that a regulated, trust-framework-based approach to data sharing could work at national scale. The model Raidiam built for the UK became the blueprint for Brazil, Australia, and beyond. Now the same trust framework is extending to Smart Data across energy, telecoms, property, and pensions — the original investment expanding far beyond banking.
Charlotte Crosswell OBE, former Chair of the OBIE, is now Raidiam's Executive Chair — bringing the governance experience of the world's first open banking programme directly into the company's leadership. The foundations built once for Open Banking are now powering ecosystem expansion across every UK sector.
Services delivered
The ecosystem control plane powering the world's largest digital economies
Brazil Open Finance
- —940+ institutions
- —100B+ API calls/year
Central Bank of Brazil
Brazil Open Insurance
- —42 providers
- —1.18M monthly API calls
Superintendência de Seguros Privados
Australia ConnectID
- —Big Four banks
- —10M+ customers
Australian Payments Plus
NZ Fraud Data Sharing
- —NZBA member banks
- —Fraud prevention network
New Zealand Banking Association
UAE Open Finance
- —Central Bank of UAE
- —National ecosystem
Central Bank of UAE
UK Smart Data
- —Cross-sector trust
- —Open Banking origins
UK Government / FCA
Our clients include central banks, payment scheme operators, and globally systemically important financial institutions. We don't build point solutions. We operate the ecosystem control plane that the world's financial system depends on. They built once. They keep expanding.
Raidiam is a founding contributor to OpenID Federation and actively shapes the standards that define how digital trust ecosystems work globally. OpenID Federation is the standard. Raidiam Connect is the ecosystem control plane that makes it work at national scale — and lets it expand to whatever comes next.
Built on 10+ years of battle-tested standards
Where will your ecosystem take you?
Whether you're a regulator building a national digital economy, an enterprise platformising across brands and clouds, or a bank that wants to stop rebuilding trust for every new use case — there's a next step.
See It in Action
See how one investment in Raidiam Connect covers your first use case — and the next hundred
Request a Briefing
For regulators and central banks — how to build the foundations for an expandable digital economy
See the Proof
Brazil started with 2 data-sharing scopes. Today it has hundreds — all on the same infrastructure
Not sure where to start? Build the business case → · See if this is right for you → · Developer Portal & API docs → · Security & Trust Center →