A 2-part blog series for anyone interested in the protections that exist for customers who chose to access their financial data through third-party providers. We hope readers will come away with a clearer view of the different roles of businesses involved in open banking. Part I is about the ‘data retrievers’ — account information services …
Open Banking refers to a specific U.K. organization authorized by the Competition and Markets Authority on behalf of the U.K. government. The broader use of the term open banking refers to the set of laws, technical specifications and implementations around the world to improve the secure sharing of customer financial information, with full approval by the customer. Now, …
Continue reading “Open banking — lessons, challenges and paths forward for new banking services”
13th January 2019 marked one year since the UK embarked on its Open Banking experiment. Despite the inevitable teething problems, the initial signs are encouraging, as banks up their game in the face of strong competition from innovative third party products and services. Whith another version of the Open Banking Standard yet to be released, …
Continue reading “Has Open Banking changed anything 15 months on?”