Community
Open Banking regulation, innovation and technology and it's potential to revolutionise the Financial Services Industry.
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Christopher Gorst Head of Better Markets at Nesta
Open banking is currently leading the way in demonstrating how we can make our data work for our benefit. It has been live for over a year now and since its launch, there has been a flurry of activity as the largest banks, challenger banks, and new and established fintechs take advantage of the opportunity to create open banking enabled products a...
09 August 2019
Retired Member
Open banking is now a much talked about topic in Australia. Brought in to create a more competitive financial ecosystem, it aims to deliver products, services, and experiences that customers will keep wanting more of. Although delays have taken place, by July 2020, all banks in Australia are expected to have their data opened up via APIs. Banks li...
19 July 2019 /regulation
Open Banking has grown overnight. It started with the PSD2 regulation for Europe in 2018. Open banking is now adopted in Australia, several parts of Asia, Latin America and many other regions. Here are a few facts to understand what Open Banking is and why you should consider building a strategy around it. What is open banking and why was it create...
15 July 2019 /regulation
James Varga CEO at The ID Co.
I was intrigued by the production of the below graphic after being asked to comment on it by colleagues within the context of Open Banking. Without question, it gives food for thought. With the luxury of hindsight, it feels odd that it took almost half a decade for electricity to be available to a mere 25% of the US population. There are very good ...
26 June 2019
Hakan Eroglu Global Open Banking & Open Data Lead at Mastercard
With the introduction of the European Union’s PSD2 and Open Banking in the UK, the concept of Open Banking has arrived in Europe and is clearly here to stay. But what is happening in other parts of the world? What can we in Europe learn from these developments? And which initiatives will prevail—whether driven by the regulator or the industry? Asi...
20 June 2019
Anthony Walton CEO at Iliad Solutions
In May, Accenture released a new piece of analysis entitled ‘How Banks Can Thrive In An API Economy.’ The industry press has been awash with company announcements and predictions of greatness for those successfully launching an Open Banking proposition. Increasingly, we start to see more scepticism and articles describing why Open Banking is never...
Lisa Gutu VP of Sales at Yapily
PSD2 requires that Account Servicing Payment Service Providers (ASPSPs) shall design their channels in such a way so that Third Party Providers (TPPs) are able to identify themselves when accessing these channels. The ASPSP shall be able to recognize that it is a particular regulated TPP accessing the account and not the end-user himself. Article ...
13 May 2019 /regulation
Tautvydas Medziukevicius Legal Counsel at Swiipe
The Second Payments Services Directive (PSD2) is opening many doors for small companies in a bank-dominated industry. With the new rules some of the competences are transferred from the banks to the hands of the consumers. Consumers have the authority, through consent, to allow smaller companies to use consumers’ bank accounts to provide unique se...
07 May 2019 /regulation /startups
Carlos Figueredo CEO/Founder at Open Vector Limited
It is no secret for those of us involved in UK open banking from its start that top UK Banks have and continue to drag their feet to truly meet open banking/API performance expectations as confirmed by the Finextra news report from APImetrics. While this report is sadly not completely news, it confirms the lack of commitment from UK’s top three. ...
06 May 2019 /payments
Abdulla Almoayed CEO at Almoayed Technologies
The spirit of co-opetition will make Bahrain’s banks the envy of the world Bahrain’s Open Banking compliance deadline of 30th June is rolling round quickly and its regulator, the Central Bank of Bahrain has already signalled that it has no plans to extend it. This means Bahrain’s banks need to move quickly. Doing so, however, is risky: hasty decisi...
02 May 2019
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