It’s been over a year since I first blogged on the subject of open banking and it is fair to say, mainly driven through the regulatory pressures of PSD2 and the UK Competition and Markets Authority (CMA) led UK Open Banking initiative, that across Europe, much progress has been made in moving the banking industry to adopt APIs
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Global payments and banking systems are changing rapidly, and the EU’s PSD2 directive is a strong push toward financial transparency.
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The financial services industry is no stranger to exorbitant changes in the sector, with the last few years, in particular, being game changing for both businesses and consumers. What’s more, as we know, the industry is only going to keep morphing, shaping to consumer demand. A major part of this transformation will be around PSD2, which is set to take effect in January 2018, and promises a wealth of benefits for banking customers.
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The debate surrounding “screen-scraping” continues as Member States of the European Union are preparing for the impending Second Payment Services Directive (“PSD2”).
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Most large global banks are planning major investments in Open Banking, says Accenture.
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On Monday, October 9, Lendit Europe, the event gathering 1000+ representatives of the international fintech and lending scene on the banks of the River Thames.
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The World Payments Report 2017 shows significant expected growth in digital payments in the next three years to more than 720 billion transactions.
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We talked with Lu Zurawski & Mark A. Ranta about standardized Open API governance frameworks, the transformative nature of open APIs and more.
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The European Commission is investigating whether banks are deliberately preventing non-bank competitors from gaining access to customer account data.
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In spite of the many advantages, customers remain concerned and confused by the implications of open banking. We explain how to opt out and keep your data safe online.
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