- June 18, 2018
- PSD2
- Open Banking
Fireside chat with Dave Birch and Tim Richards on the asymmetry of open banking | The Paypers
Consult Hyperion: Open Banking, aka PSD2, is intended as a means of opening up the data within banks to enable competition.
Still, many of the businesses who stand most to gain from this have their own siloed data which they have no intention of sharing with the banks. In this asymmetric world banks, upon which the world relies for financial stability, are relegated to being highly regulated sources of capital and customer identity verification, with little customer reach.