UK Open Banking Project Narrows Focus On PSD2 Issues | PaymentsCompliance

The UK’s ambitious open banking project has been hailed as a world-leading programme of reform, yet has faced criticism for its complex and opaque structure. With the deadline for EU payments reforms only months away, the initiative is sharpening its focus on a few lingering issues.

The project was instigated by the Competition and Markets Authority (CMA), which instructed a group of nine banks to collaborate on building technological platforms to enable third parties secure access to consumer accounts.

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