Correspondence
CMA letter to Santander about breaching Part 2 of the Retail Banking Order
CMA finds breaches of Part 2 (Open Banking) of the Retail Banking Market Investigation Order 2017 and Santander has agreed to take action to prevent a recurrence.
Documents
Details
Part 2 of the Order requires the nine largest banks in Great Britain and Northern Ireland to ensure accurate, comprehensive and up to date Read-only product and reference information is continuously available through the UK’s Open Banking system. Santander failed to 1) keep some information published through Open Banking up to date and 2) to publish some information at all. One hundred and six data fields either contained out of date information or had information missing. The longest failure was around seven years.