Community
Open Banking regulation, innovation and technology and it's potential to revolutionise the Financial Services Industry.
As the owner, you will also give up ownership if you leave this group.
Marcus Martinez Industry Advisor, Worldwide FSI at Microsoft
The first wave of Open Banking was characterised by a steep learning curve for the nine largest UK banks. The new technology standard created challenges in all organisational aspects. Banks will have to operate differently, increase their focus on collaboration and up-skill their employees to navigate this change. Another key characteristic of thi...
14 November 2019 /inclusion
So you are not (yet) part of the select group called CMA9 and you are asking yourself: “Should I wait to be invited or just joint the movement? Is this Open Banking standard really a game changer?” Even though Open Banking was introduced by the CMA order in the UK, in reality, Open Banking is an industry necessity and it is inevitable. The alterna...
07 November 2019
Retired Member
SMEs represent a tremendously large market for banks. According to the BankingCircle, in Europe, small and medium enterprises make 99% of all businesses and create more than 85% of all new jobs in the last five years. In the US, there are 30 million SMEs. They generate about ⅔ of jobs in the private sector and have $46 trillion of annual spending...
05 November 2019 /devops
Every year there is a new buzzword that dominates the conversations in the financial services industry. A few years ago it was Big Data, then omnichannel. After that, it was Blockchain and now Open Banking. Interestingly enough, most of the attention is usually on the threats of new technologies, how they may disintermediate banks, how groundbreak...
28 October 2019
Christopher Gorst Head of Better Markets at Nesta
Until now, the UK has been way ahead of the game in terms of fintech innovation. Indeed, the UK is apparently the fifth most innovative country in the world and was named as a leading European tech innovator in KPMG’s Global Technology Innovation report. The fact that we were first to introduce open banking has certainly played a part here but, wi...
22 October 2019
Paul Shumsky Technology Advisor at Entrepreneur
The retailers that stand to gain the most ground in today’s fast-evolving industry are those that build a streamlined online and in-store shopping experience that is second to none - and digital wallets offer a powerful means of doing this. Shopping is as much about the comfort and ease of the retail experience as it is about what is on offer onlin...
02 October 2019 /payments
The third iteration of the Open Banking specifications, released earlier this year, are now being adopted by the major UK banks. The Regulatory Technical Standards on Strong Customer Authentication and common and secure communication under PSD2 (commonly abbreviated to “the RTS”) came into effect on 14th September 2019, and many of the major banks...
24 September 2019 /regulation
Open banking - the concept of using an open API technology to enable third-party software providers and banks to build new, customer-centric financial applications and services - has the potential to unite the UK and European banking customer. It can do this by bringing them into a new era; one in which they are at the centre of the financial serv...
23 September 2019 /sibos
Steve Morgan Banking Industry Market Lead at Pegasystems
When Open Banking and the open APIs it allows came on the scene, it presented a huge opportunity for financial institutions to broaden the type of services on offer their customers. As a result, a primary way banks are choosing to diversify their offering is by partnering with third parties who have products relevant to their customers. But do the...
19 September 2019 /sibos
There’s nothing quite like an impending deadline to shake you out of summer holiday mode – and PSD2, due to come into force on September 14th, is a significant one. Whilst the FCA recently confirmed an 18-month delay to the Secure Customer Authentication (SCA) aspect of the directive, PSD2 is about so much more than multi-factor authentication. It ...
13 September 2019 /security /regulation
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.