Tuesday, October 15, 2024
14.9 C
New York

UK Finance: Sets out strategy for open banking payments

UK Finance: Sets out strategy for open banking payments

  • UK Finance brought the payments industry together to consider the future opportunity for open banking payments
  • There are now over 2.5 million open banking payments a month compared to just 320,000 in the whole of 2018
  • The recommendations in the report will help support the development of more products
  • There should be further development of open banking payment standards, supported by industry governance
  • This should be considered following the CMA’s decision on open banking governance
  • There is a case for exploring a voluntary framework for open banking payments

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...
Exit mobile version