The Open Banking Horizon

Ross Garrett

According to McKinsey & Co., “Open Banking can be defined as a collaborative model in which banking data is shared through APIs between two or more unaffiliated parties to deliver enhanced capabilities to the marketplace.” It sounds easy enough, particularly since the UK’s Open Banking Working Group (founded in 2015) established a framework for data sharing, security, and consumer protection in the modern era. The resulting Open Banking Standard establishes how banking data will be shared through secure open application programming interfaces (APIs), allowing consumers and business customers to more effectively manage their wealth. 

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Building Integrated Digital Treasury and Payment Solutions

Learn how treasury and payment services can digitally transform their solutions into platforms by integrati...