Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre. Please read our Privacy Policy.
Open Banking regulation, innovation and technology and it's potential to revolutionise the Financial Services Industry.
Open banking has swiftly turned from being a buzzword into the means of bringing financial services in the new paradigm. Change is inevitable and corporate culture is a good place to start. For decade...
Banks are facing up to the challenges of the digital age. But legacy systems remain a hindrance to innovation. How are banks addressing this challenge to deliver innovation at the speed that customers...
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...
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 to...
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 top...
“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). Especial
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 cust...
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,...