Open Banking

Open Banking regulation, innovation and technology and it's potential to revolutionise the Financial Services Industry.

Louisa Murray COO Europe at Railsbank

Embedded finance and 'DIY wealth management' can drive a more equitable digital economy

Discussions around mental health and wellbeing have been thrust into the spotlight lately, and with good reason when you consider the impact of repeated lockdowns and the economic chaos introduced by COVID-19. Managing your money appropriately is undoubtedly a significant source of stress in these strange times. A recent study by Metro’s ‘Mentally ...

01 June 2021 /wealth /inclusion

Steve Morgan Banking Industry Market Lead at Pegasystems

The Future is Bright with Bill Management and Utility Switching Services

While Open Banking use cases have been somewhat lacklustre so far, we could be about to see a shakeup in terms of how banks and utility providers unite for the benefit of the customer. Just this year it has been reported that TSB Bank is launching a bill management and utility switching service after a pilot found that users saved an average of £1...

18 May 2021 /people /retail

Jonathan Westley Chief Data Officer, Experian UK & EMEA at Experian

Open banking is key to improving people’s financial health

The launch of open banking in 2018 promised to forge a new way for financial services. It was a bold statement of intent, and the reality is that it was never going to be possible to get people excited about what was essentially a change in the ‘plumbing’ of the financial services sector. However, three years and one pandemic later, people are rea...

17 May 2021

Alex Robinson Fraud Analytics at TSB

Will Open Banking lead to the Next Wave of the UK's Fraud Epidemic?

As Open Banking (OB) in the UK prepares to accelerate, have the fears around security and fraud risks gone away? When OB launched to great fanfare in 2017, there were concerns from banks about the security and fraud risks - have these materialised, been mitigated or do they remain, lurking in the shadows? When OB launched in the UK it was meant t...

12 May 2021 /payments /crime

Laura Francis Head of Brand and Marketing at Form3

Is Open Banking all it claims to be?

Open banking is becoming more widespread. The UK’s OBIE (Open Banking Implementation Entity) reported that the number of open banking users doubled from January to September 2020. With the EU looking to introduce open banking in the coming years, some reports claim that open banking has ‘delivered on every count’. But despite its impressive growt...

23 April 2021 /payments

Joris Lochy Product Manager at Intix | Co-founder at Capilever

The partnership manager - A new key role in every bank and Fintech

Thanks to Open Banking, embedded banking and banks positioning their apps as super-apps, the financial sector becomes more and more an ecosystem of parties collaborating together to execute upon a customer’s journey and needs. As a result, more and more banks and Fintechs sign partnerships with other financial players and players from other industr...

29 March 2021 /people /startups

Tom Greenwood Founder & CEO at Volt

Short-term gain for Visa and Mastercard creates a silver lining for Open Banking

Whatever side you were on in the Brexit debate, it’s hard to imagine any merchant welcoming reports of the card schemes quintupling fees for cross-border payments between the UK and EU. No longer constrained by the EU’s cap on interchange fees, Visa and Mastercard plan to increase their interchange to 150 basis points (bps) for credit card, and 115...

26 March 2021 /payments /regulation

Josh Rix Director at Woodhurst Consulting

Open Finance - Reducing the complexity of insurance

One of the biggest challenges when purchasing insurance is the complex nature of the product. Many customers are put off by the sheer volume of data they must enter, only to receive lengthy policy documents filled with jargon. In fact, less than 50% of customers understand what factors determine the price of their insurance policies. The Insurance...

23 March 2021 /retail /startups

Steve Morgan Banking Industry Market Lead at Pegasystems

How banks can take advantage of Open Banking to increase customer retention

Open Banking now has three million active users in the UK as of January 2021 according to the Open Banking Implementation Entity. However, since PDS2 came into force, the big transformation that was expected has not come to fruition. The directive paved the way for data sharing from multiple accounts from different providers, helping people with ...

22 March 2021 /retail /inclusion

Retired Member 

Beating the banking disruptors with digital decoupling

Today’s consumers of financial services know what they want, and that’s a customer experience that is both fast and frictionless. If they can’t get this from traditional banks, then there are any number of digital alternatives out there ready to deliver this service. Banks understand the nature of this challenge all too well. They don’t need to b...

16 March 2021 /devops