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[Treasury 360']

Open banking picks up corporate steam in UK

It left the station slowly last year, but British corporates perceive the ”open banking” train to be accelerating.

Open banking picks up corporate steam in UK

In January 2018, the UK forced nine of its major banks to enable third-party access to their clients’ data. It meant the UK took a prominent position in the development of ”open banking”, although the process is largely underway across Europe backed by the EU’s directive PSD 2.

Quiet but not still

Now one year on, some look back to evaluate the first year. News site Treasury Today refers a survey study, by treasury management and payments firm Centtrip, indicating that many decision makers on the corporate side see both potential, despite being cautious of risks involved. Another publication, The Global Treasurer, draws a comparison between open banking and previous re-regulations in telecoms and energy.

Read the article in full: Treasury 360′

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