Open Banking is open for business
Competition is continually intensifying in the banking sector with nimble challenger banks, fintech startups, technology giants and social media leaders targeting various parts of the financial services profit pool.
The introduction of the PSD2 and GDPR regulations, simultaneously opening up and protecting consumer data, has forced banks to up their game in order o keep up with the innovative use of customer financial data by the new players on the block. At the same time, banks must work harder than ever to build trust and a strong value proposition so that customers consent to a data-led relationship in 2019 and beyond.
In this edition of Meniga’s Fintech Insight Series, Innovating with Open Banking, we look at the current state of the Open Banking landscape, how data-driven innovation is transforming the banking sector and explore real use cases and great examples of how banks can use data to deliver better products & services than ever before.