Open Banking is a big deal, with wide implications – yet it still feels like the best-kept secret within financial services. It’s not about branches opening longer – it’s about an imminent, seismic shift in the world of banking, which rebalances the relationship between businesses, banks and customers with the recognition that data has value.
January 31, 2020, Washington, DC – The Department of Finance Canada today released Consumer-Directed Finance: The Future of Financial Services, which is the result of more than nine months of consultation with stakeholders in the financial services and financial technology sectors. Financial Data and Technology Association (FDATA) of North America Executive Director Steve Boms issued the following […]
2020: the year where open banking and card linked tracking advance customer personalisation (Ben Stirling, retailtimes.co.uk)
In 2020, innovations in technology will create a whole new level of nuanced, data-driven customer personalisation. The increasing prominence of open banking and card-linked tracking will provide more insight into consumer shopping patterns and financial behaviours – if brands take the steps necessary to utilise this information. It will provide both an opportunity for customers […]
Commercial banks in South Korea plan to formally launch an open banking service later this month, in a move to boost convenience and lower transaction costs for their customers, the country’s financial watchdog said Sunday.The service, which enables bank customers to use virtually all banking services of any bank here with just one smartphone application, […]