Last September, the European Union’s regulatory requirement for banks to open up their payment accounts via application programming interfaces (APIs) came into effect. Since then, open banking has taken centre stage within European retail banking and payments. In this blog, Elina Mattila, Executive Director at Mobey Forum, shares insight into how emerging consumer attitudes may…
BBVA has become the first bank in the U.S. to offer a full suite of Banking as a Service products after its BBVA Open Platform program moved out of beta. The move will see the bank offer a large range of banking products and services to businesses who want to offer their customers financial products without taking…
Given the various strategic options available to banks, the biggest challenge posed by open banking is not technological or regulatory, but organisational. Business models, commercial strategies and operational practices must evolve. Some banks may choose to take a straight compliance approach to PSD2 and retain their existing role. There are opportunities, though, to explore new…