- August 20, 2018
- PSD2
- Open Banking
Big six come under fire for slow take-up of Open Banking rules
Britain’s big lenders have been criticised for their slow take-up of so-called “Open Banking” reforms designed to spark a digital revolution in banking. The rules kicked in at the start of the year to make it easier for people to move their financial data to rival service providers. They are being enforced on big lenders by the Competition and Markets Authority (CMA) to encourage switching.