Author Archives for Jed Murphy

Open Banking in the UK: Finding the Tipping Point

January 14, 2019 Posted by - Head of UK Strategy and Innovation

This week marks a year since Open Banking was introduced in the UK. Designed to create greater competition in financial services by making customer data more portable and accessible, many had high hopes. The UK’s Open Banking initiative provided two elements that were missing from the initial PSD2 legislation, the EU’s own similar payments directive: a technical specification and a supporting regulatory framework. This made the UK the most advanced market for Open Banking in the world. As a result,...