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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.
Hakan Eroglu Advisor at BIS Innovation Hub (all opinions are my own)
In the European Union, PSD2 has created an important initial framework for open banking. API standardization is essential for building a fully-functioning open banking ecosystem – and the Berlin Group’s NextGenPSD2 has emerged as the leader among several PSD2 API standardization initiatives that have been launched. Over the past few months, versio...
05 December 2018
Marten Nelson Co-founder and CEO at M10
In the digital world banks can win by doing more of the same... What is a bank? A place to store money? Yes, but keeping cash under the mattress doesn’t make a bank of your bed. A lender? Sure. But today you can get a line of credit from almost anywhere. A payments facilitator? Absolutely. Yet banks need third-party tech, independent networks, proc...
23 November 2018 /retail
Retired Member
In a number of my previous blogs, I’ve pointed to the importance of platformification, and the need for banks to explore new revenue models for Open Banking. In this blog, I’d like to explore the topic again, this time taking a look at some of the Open Banking models out there today. As with every business, each bank has its own unique goals, prod...
20 November 2018
Lu Zurawski founder, iKnowMe at Lu Zurawski
“The more things change, the more they stay the same.” The wisdom in this old adage appears to ring true when applied to the early phases of the evolution of Open Banking (or open payments). Especially when you contrast it with the early days of ATM withdrawals; particularly those made in the dead of night so you could pay cash for your after-par
13 November 2018 /payments
Even though it’s early days for open banking there are already plenty of trailblazers offering new services. From forex to rental accommodation, personal identification to loyalty schemes, many customer experiences are starting to be transformed by the effects of Europe’s Second Payment Services Directive (PSD2) just months after it was introduce...
05 November 2018 /payments
The UK’s retail banks have been broadly ready for open banking since the start of the year. Let's look at what we have learnt so far. The UK is probably the most advanced country in Europe when it comes to open banking. With its nine biggest retail banks embracing open banking in advance of the European Union’s second Payment Services Directive (P...
24 October 2018 /retail
Brendan Jones CCO - Co-Founder at Konsentus Ltd
In a recent dialogue with the EBA, they stated about PSD2 open banking regulations that: “Ignorance of them can of course not be used to justify non-compliance”. Further adding: “Non-compliance amounts to a breach of law, with the resultant consequences for the legal entity.” With that mind and with a deadline of March 14 2019 looming less than 6...
23 October 2018 /payments /regulation
As we enter the final quarter of 2018, it seems a sensible time to take stock of arguably the year’s most exciting development in banking: the introduction of Open Banking back in January. Open Banking was the CMA's solution to the big banks’ dominance of the Personal Current Account market and all the products that hinge off PCAs, granting consum...
22 October 2018 /inclusion
What can financial institutions around the world learn from Europe’s early attempts at digital banking freedom, and how can they accelerate the ROI? As the shift towards open banking gains speed, it’s time for financial institutions around the world to recognize this for the huge opportunity it represents – rather than as yet another threat, inc...
22 October 2018 /sibos
Let’s work backwards. Most banks know that the final deadline to comply with PSD2’s Regulatory Technical Standard (RTS) is 14th September 2019. Eleven months away. Following the amendments to the RTS, however (based on industry consultation and lobbying from third party providers), there is another deadline for banks to negotiate, which is much soo...
17 October 2018 /retail
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