How can credit unions leverage Open Banking
The market share of credit unions (CUs) in the finance sector is only a fraction of their bank counterparts. However, they play a valuable part in building a healthy banking sector. They also tend to offer more inclusive banking than some commercial banks. According...How to become a PISP player under PSD2?
The Revised Payment Services Directive has been working on to build a framework for the Third Party Providers like PISP (Payment Initiation Service Provider) and AISP (Account Information Service Provider) to develop services on top of bank’s data. Open Banking under PSD2 has made it all possible with bringing the focus on access to the account. As a result, banks will not be the only ones with information about transactions, customer’s banking history, as well as his financial position.
Open Banking in the UK: What has changed so far
Since January 2018, when the UK embarked on its open banking experiment, we have heard a lot about it. Now the regulation is almost two years old, we believe that there have been visible changes in the financial landscape, especially for big banks and firms willing to...
How will Open Banking impact the market for lending
With open banking leading the way, large banks, financial institutions, and aspiring third party providers are preparing to redefine the financial services. They will produce more personalized products and services catering to the financial needs of the consumers....
