Open Banking in simple terms

  Traditionally Banks have argued that any customer data belonged to them and access was given to that data only to customers. This changed in 2016 with the advent of regulations like PSD2 (Payment Services Directive 2) which is part of the larger Open Banking reforms. It was emphasized that customers need to have the control on their data and should be able to share it with any regulated third parties for their own benefit.…

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Digital Banks – The Future of Banking?

We’ve all heard of them, seen their florescent cards, admired their ads on the tube: App-Based Banks. They don’t have branches, if you need to speak to customer services, just open a chat on the app. These banks can be fantastic. They give you live spending notifications, round up your purchases to save up, and help you create a budget. Live Notifications One of my biggest issues with banking, while I was at University, was…

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