- August 13, 2018
- PSD2
- Open Banking
Open Banking, fintech and the Brexit hokey cokey – TLT LLP
London is, arguably, the most important global hub for financial services. As a result, the consequences of the Brexit vote, the ensuing uncertainty and the eventual transitional and regulatory framework applying to UK financial services and how it will continue to access overseas markets has been subject to huge speculation. Much of the debate has focused on banks retaining access to EU markets through passporting. This has prompted questions about whether and to what extent institutions will relocate, with various other centres – from Dublin to Paris to Frankfurt – keen to show their credentials. Less consideration has been given to the impact of Brexit on the fintech sector.