Open Banking

Happy Sixth Birthday to Open Banking!

29 Jan 2024

Open Banking celebrated six years young on the 15th of January, making this the perfect time to give the industry a JROC (Joint Regulatory Oversight Committee) update. As we look ahead in Open Banking, JROC has been our guiding North Star. The JROC committee, having commenced their ambitious work in June 2023, has already proven essential in helpi...

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Artificial Intelligence and Financial Services

Data is the fuel that will drive AI & Open Finance growth

08 Dec 2023

Artificial intelligence will have a seismic effect on financial services. McKinsey has predicted that AI could deliver a “value-creation opportunity of up to $20 trillion” for banks each year. Accenture also argued that 90% of all working hours in the banking industry will be “impacted” by large language models such as ChatGPT and predicted that ...

Open Banking

Cutting through the complexity: How to prepare for PSD3

24 Nov 2023

The PSD2 was a truly historic piece of legislation that laid the foundations for a paradigm shift in financial services. The blockbuster Payment Services Directive 2 planted the seeds for Europe’s thriving Open Banking ecosystem. Now we’re awaiting a sequel. When the PSD3 comes into force at some point in the next five years, it will unlock vast n...

Open Banking

Let’s conquer our fear of Digital ID and unlock the opportunity

04 Oct 2023

The UK is at the forefront of financial innovation. We created a blueprint for Open Banking. Our data regime is one of the most progressive in the world. Yet we are still missing one crucial part of the puzzle: a universally accepted method of digital identification. Our lack of a digital ID is bad news for consumers and businesses alike. In finan...