Connected Magazine

The key that’s about to unlock open banking

Open Banking has been slow to take off but new legislation and greater collaboration could lead to benefits, writes Jonathan Keane

Joe Morley, head of European operations at TrueLayer: ‘The more that banks realise this is a revenue generating opportunity for them, the more they’ll invest in the APIs’

Open banking has held great promise for many years but its rollout in Europe has been a little bumpy.

The premise, driven by regulation, is all about opening up the treasure chests of data held by banks and financial services firms to allow other companies to build new products and services.

While this can create new areas of opportunity for fintech start-ups, the traditional banks haven’t always been as excited about open banking.

“One of ...