Ozone API Brings cVRP to Non-CMA9 Banks in Eight Weeks

Britain’s open-banking framework was initially driven by the Competition and Markets Authority’s requirements for the country’s nine largest banks, known as the CMA9. Commercial variable recurring payments, or cVRP, allow authorized payments to vary in amount or frequency, offering a more flexible alternative for subscriptions, bills and money-management services. Extending that capability beyond the largest lenders is important to broadening competition and adoption.

Ozone API said it can deploy cVRP infrastructure for banks outside the CMA9 group within eight weeks, giving smaller institutions a faster route to upgrade their open-banking technology. The offering is designed to reduce the time and technical burden involved in supporting new recurring-payment products. Its rollout could widen access to cVRP across the UK banking market and accelerate the expansion of open finance beyond the original nine mandated banks.