Join this interactive, online discussion to find out how banks are responding to the Open Banking opportunity and discover some of the exciting new technologies that are emerging as significant players.
Are banks at a real risk of becoming irrelevant?
The changing regulatory regime (PSD2) is compelling banks to make customer data accessible to third parties who can themselves develop innovative services and products, further weakening the banks value proposition. However, this is not without risk – giving access across the firewalls can expose private client data to potentially less secure environments, increasing the potential for financial crime. Financial institutions have prepared for this in several ways, ranging from minimal compliance to optimising the opportunity – whilst fintechs have already developed solutions to both compete with banks and assist them with compliance.
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