Open Banking sector set to quadruple in value, researchers predict – Business Insider

The Open Banking sector could quadruple in worth during the four years to 2022, according to new research from accountancy group PwC.

The prediction follows the introduction of new rules in January which require UK banks to share current account holder data through an integrated technology called application programming interfaces (APIs). These APIs will be used by third parties such as challenger banks, fintechs, tech companies and credit reference agencies to open up the banking industry.

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