UK Open Banking expanded to cover all PSD2 products

The UK’s Open Banking project is being expanded to embrace all payment account types – including credit cards, prepaid cards and e-wallets – covered by PSD2. In a bid to boost competition and innovation, last year the Competition and Markets Authority (CMA) told the nine largest current account providers in Great Britain and Northern Ireland to set up a body to build common API standards to let customers share their financial data with non-bank providers.

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