David Goodbrand: Open Banking – A tech revolution?
Last week saw the launch of Stage 1 of the Open Banking initiative. Responding to the concerns highlighted by the Competition and Markets Authority’s (CMA) retail banking investigation, the Open Banking initiative aims to take advantage of the continuing developments in technology (and fintech in particular) to give customers more choice on how they manage their money and finances. It will enable customers to share data securely with third parties, compare products on the basis of their own requirements and manage their accounts without having to use their bank.
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