Open Banking

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

Guillaume Pousaz Founder and CEO at Checkout.com

PSD2: A new dawn

This week, the second Payment Services Directive (PSD2) will overhaul the European payments landscape. The new legislation will essentially force banks to open up their data, allowing third party providers such as fintech companies to access both account and transactional information. This gives third party providers the power to authorize payment...

11 January 2018 /payments

Retired Member 

Would You Like To Earn Money To Use Open Banking?

The Cambridge News is winning the prize for the most eyecatching Open Banking headline this week. "Massive changes are coming to banking - and you could get £150 out of it - What is Open Banking and how will it affect me?" Without hesitation, I started reading through the usual Open Banking introductory information to see how I could clai...

10 January 2018

Vishwanath Thanalapatti Analytics at Temenos

What Next in Banking: Open Bank Blockchain

Open Banking is the exciting new kid in the block; the epitome of financial information that will be a benefit to the financial institutions and consumers alike. This is the API universe. Literally with the flood gates for information open, the fintechs have a playground with sky as the limit. What next in Blockchain? This is a great opportunity ...

04 January 2018

Retired Member 

Open Banking - Winning Hearts and Minds

Winning the hearts and minds of the general public is likely to be an uphill struggle for the Open Banking community, based on public comments left on a recent BBC Open Banking article. Of the 47 comments at the time of writing, I counted one that was pro-Open Banking. Here are a selection of the comments; “You'll soon have an app on your mobile wh...

04 January 2018

Retired Member 

Open Banking: What Will Next Christmas Bring?

Last Christmas I had two permanent bulges in my trouser pockets thanks to my ever present wallet and mobile phone. I bought presents with my traditional bank account card using online and contactless services and I used the ATM to withdraw cash to go to the Christmas parties I attended. How things have changed! A year on and my financial habits ...

23 December 2017

Retired Member 

Open Banking: Will I Really Have Control Of My Data?

As a customer, one of the big selling points of Open Banking is giving me control of my financial data. Is this really true? Having reviewed the latest European Open Banking specifications there is plenty of data I should be able to get hold of. The question is how? I get the fact I will be able to use aggregator apps to view my total financial pos...

21 December 2017

Campbell Shaw SVP Publisher Partnerships at Cardlytics

Shifting hackathons into next gear to tackle Open Banking

Hackathons have become important drivers of change across the business world. The financial services industry has often had a love-hate relationship with them. Advocates recognised their importance; critics reckoned they were theatre. But as banks across Europe find themselves at multiple crossroads, hackathons, in their truest form, are crucial. I...

20 December 2017 /retail

Retired Member 

Open Banking. Some regions have one thing right but banks in general still have one thing very wrong

Last month I spoke at the Nordics NextGen conference in Stockholm. The topic was open banking and PSD2 with a truly great panel, moderator and a full house of intertactive 400+ attendees and my first Nordics visit with open banking experience under my belt. There were two key learnings that I took away from my time there. 1) Clients at the for...

14 December 2017 /payments

Hakan Eroglu Advisor at BIS Innovation Hub (all opinions are my own)

Comparing the Berlin Group and Open Banking UK API Standards for PSD2

Major changes are under way in Europe’s payments landscape. In the UK, the Competition & Markets Authority (CMA) has triggered a fundamental reshaping of the UK’s digital financial industry ecosystem through the Open Banking regulation. And in the EU, the PSD2 (Payment Services Directive 2) regulations – coming into force on 13 January 2018 – ...

13 December 2017

Kunal Patel Product Manager at 1E

Open Banking - Consumer Impact

I have read quite a lot on Open Banking over the last couple of years, what it means to the industry, the players and more importantly the consumer. The revised Payment Services Directive (PSD2) is required to be implemented in the UK by 13 January 2018. This will definitely change the banking experience, bringing with it more competition and innov...

05 December 2017 /retail