Open Banking: A Reflection by Hogan Lovells

What a difference a few weeks makes. Back in March we were talking about Open Banking at the Innovate Finance global summit, with a focus almost exclusively on the UK, and a nod towards an emerging global trend. Less than two months on, and the list of countries actively exploring open banking solutions seems to be growing by the day. Some, like Australia and Hong Kong, are well advanced in their planning, whilst others are at much earlier stages, including countries such as Mexico, Belarus, Taiwan, Canada and a host of countries in Africa and SE Asia. All of which makes the issues discussed at the summit event even more relevant. They eyes of the world are on the UK, watching to see how Open Banking develops and to learn from its implementation, so now seems like a good time to look back and recall what we said at the summit about the key areas of remaining uncertainty.

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