“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
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...
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 co...
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 amou...
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 Bankin...
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, i...
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,...
[Update 29th October 2018 - I have been asked to clarify that phase 2 of Confirmation of Payee (CoP) will include support for individual collection accounts for financial institutions without the nee
Analytics descriptive or predictive is normally associated with data that has accumulated over time banks went digital with introduction of computers in operations. Data thus accumulated grew to big ...
Open Banking is shaking up the financial services sector and opening up new avenues and opportunities for both banks and payment service providers (PSPs). The open API ecosystems that are emerging are...
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