- September 25, 2018
- PSD2
- Open Banking, PSD2
Open Banking shouldn’t be written off, the revolution is just starting – FinTech Futures –
January 2018 saw the arrival of Open Banking, landmark legislation that hands ownership of financial account information and data from the bank or building society to the customer.
Six months into what was heralded as the start of a revolution in financial services, slow implementation by banks and building societies has prompted criticism that the initiative is more hype than about structural improvement. Yet, this ignores the fact we are at the very start of the journey, and realising the benefits that Open Banking will deliver to customers, providers, regulators and our economy as a whole, will take time.