Across the world, the trend towards open banking regulation is clear – and is rapidly gaining traction and momentum. In Europe we’ve seen the launch of PSD2 for the EU and CMA Open Banking in the UK. In Asia Pacific there have been Open API regulations e.g. Hong Kong’s HKMA and Australia's open banking initiatives – followed by upcoming activities...
Since PSD2 became effective on 13 January 2018, banks are legally required to open up their customers’ data to third parties – such as challenger banks and digital offerings. The intention is to develop new digital offerings as well as increase competition and make it easier for customers to switch bank accounts: despite more consumers deciding to...
The Financial Services industry is undergoing another major transformation, underpinned by Open Banking and PSD2. Together these directives aim to give customers more control over their financial dat
Steve Kirsch, CEO and Founder, Token There are four things that should now be crystal clear to everyone involved in open banking: 1. Open banking has arrived. It was the #1 topic at Money 20/20 Eu...
On January 13, a piece of EU legislation known as the Payment Services Directive (PSD2) came into effect, mandating that banks must make it possible for a third party company to write software through...
In combination, the EU’s Second Payment Services Directive (PSD2) – and the European Banking Authority’s (EBA’s) related Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) an...
What is Open Banking? Starting January 13th, the largest UK banks began the process of allowing their customers to request transaction data be shared with third parties. Barclays, HSBC, Lloyds, Ban
With the objective of stimulating competition in banking, the UK’s Open Banking organization has shared a set of Open API specifications and data standards designed to dramatically reduce barriers to...
In the run up to its implementation date on 13 January 2018, the EU’s Second Payment Services Directive (PSD2) – which in the UK is known as ‘Open Banking’ – was widely perceived to be a game changer ...
There has been a lot written over the past few years about the so-called impact that GAFA (Google, Apple, Facebook & Amazon) will have on banking world in the future. These large tech companies ar...
Log in to start a new blog
Senior Manager at Accenture, leading the...
© Finextra Research 2018