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Open Banking viewed as big opportunity for UK FinTechs
UK FinTechs see Open Banking as a major area of opportunity for 2018, according to the EY UK FinTech Open Banking Snapshot, launched at HMT FinTech conference. The majority (81%) are actively getting ready, with 29% saying they are already fully prepared. FinTechs look to tech firms to collaborate In a survey of 31 UK-based [...]
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What banks don’t get about the Open Banking API economy
The Open Banking ecosystem can learn a lot from the smartphone operating system (OS) market. In particular, banks that are developing APIs in a bid to control the new ecosystem should ask themselves this: Why did the mobile operating systems of Nokia, Bada, Symbian and Blackberry (among others), fail? Like most high growth markets, the mobile [...]
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The Open Banking API’s are coming – Report from Sibos
There can be little doubt after this year’s Sibos that digital disruption drives new ecosystems, marketplaces and businesses; thus, changing the game for how banks connect to their clients and how banks run their businesses – Open banking and APIs are coming, and it is time for banks to reinvent their business models and embrace [...]
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Talking payments at Mobile World Congress 2018
In our increasingly connected world, Mobile World Congress has become more than the venue for the latest smartphone launches. The conversations and demonstrations in Barcelona now have a profound impact on various industries across the globe. With mobile playing a powerful role in the way we transact in-store and online, what did this year’s show [...]
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Open Banking can contribute £1bn to UK economy
Implementing Open Banking reforms, which came into force in the UK last month could contribute more than £1bn annually to the UK economy, CEBR research has claimed. Under Open Banking customers are given the keys to their own financial data, enabling them to change providers in minutes online with a few clicks. It also enables consumers [...]
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