- June 18, 2018
- PSD2
- Open Banking
Pandle Insights: How Open Banking Will Affect Accountancy Firms
Open Banking is a new piece of legislation that was brought into effect in January this year. It requires banks to open up their data on customers to third parties so that they can access banking data and execute transactions on the customer’ behalf.
The “Big Nine” banks have all been forced to open up customer data to third parties if the customer wishes them to.