Challenger banks. The image is one of “put up yer dukes” in Europe’s financial world, specifically in the U.K. Scrappy upstarts versus older and slower, but experienced, champions. Megabytes of data vs. marbled halls. And against all of this, PSD2, of course, looms large. The directive is meant to foster innovation in the banking sector. Beginning early next year, banks are required to have APIs in place that would allow consumers to opt into third-party services.
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