What is Open Banking and Why Does it Matter?

  Image Source: Google Images

Image Source: Google Images

Ahead of changes in EU banking regulations, the UK established the Open Banking Working Group (OBWG) in late 2015 to not only meet government standards but to uncover how to propel banking into the modern era. The resulting Open Banking Standard, opens up a new set of banking models that will help consumers transact, save, borrow, lend and invest their money in better ways than before.

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