Open Banking – Blanc Labs

This shift in financial services has been spurred by the advent of Open Banking legislation in Europe and the UK. In January 2018, the Payment Services Directive 2, known as PSD2 came into effect in the EU. Conversations have already started about implementing the directive here in North America. This directive requires banks to allow trusted third parties, with the customer’s permission, to access account information and initiate payments from those accounts.

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