The EU’s Digital Operational Resilience Act comes into force in just two years. Cybersecurity experts Duncan McDonald, Global Head of Compliance Services & Wayne Scott, Regulatory Compliance Lead, from The NCC Group explain how to prepare for DORA compliance and why the new legislation will enhance cyber resilience across the financial sector and its supply […]
The post What Is DORA Legislation? A Guide For Banks, Fintechs & Financial Institutions appeared first on Open Banking Excellence.
How can banks, fintechs, regulators and all players in the UK’s Open Banking ecosystem create the right commercial incentives for financial institutions to deliver Premium APIs? In order to move to its next stage of growth and development, the UK’s Open Banking ecosystem must collectively answer one fundamentally important question. How can we incentivise banks […]
The post Inside the Bank of APIs: NatWest and the Evolution of Open Banking appeared first on Open Banking Excellence.
Legal experts discuss artificial intelligence regulation and how financial services firms should respond to ChatGPT, Dalle-E and other Gen AI services Generative AI, colloquially known as Gen AI, is a category of artificial intelligence that uses sophisticated learning algorithms to rapidly generate a range of content, including images, video, audio, text, and code. It sits […]
The post Generating New Issues – Demystifying Generative AI and its Legal Footprint appeared first on Open Banking Excellence.
A briefing on the French ecosystem exploring the revised Payment Services Directive (PSD2), identifying potential avenues for progress, highlighting challenges and discussing recommendations for both fintechs and banks. Many countries across the globe have seen that the potential benefits of Open Banking are vast and far-reaching. Open Banking, by allowing financial institutions to share data […]
The post Open Banking in France: Opportunities, Challenges & Recommendations appeared first on Open Banking Excellence.
How can businesses unlock the productivity gains of AI whilst mitigating the risk of ‘hallucinations’ and solving challenges around toxicity, privacy, bias, and data governance, asks Paul O’Sullivan, SVP Solution Engineering at Salesforce? There is huge hype around generative AI apps like ChatGPT, with advocates arguing that this technology will increase productivity and improve efficiency […]
The post The Risks and Rewards of Generative AI In Financial Services appeared first on Open Banking Excellence.
Personal memories of working on the team which created a world-leading Open Banking payment option for HMRC, Britain’s tax authority
The post Made in Britain: The world’s first public sector Open Banking use case appeared first on Open Banking Excellence.
To tackle exclusion, we must improve consumers’ financial health and ensure they have access to tools which drive better outcomes, argues Ripsy Bandourian, Head of Plaid Europe The Cost of Living Crisis In Numbers: A survey of UK consumers Access to bank accounts is now an outdated metric for measuring inclusion. To understand this challenge, […]
The post Open Banking Can Bridge The Advice Gap and Boost Financial Inclusion appeared first on Open Banking Excellence.
Credit is almost as old as human civilisation itself. Ever since the first recorded loans were arranged in ancient Sumeria more than 5,000 years ago, lenders have asked the same question when making a decision: will this borrower be able to pay back my money? Although today’s lenders are asking much deeper questions about affordability, […]
The post Open Banking & Lending: Benefits, Challenges, Use Cases and Market Insights appeared first on Open Banking Excellence.
How can the industry build upon the recommendations of JROC to take the next logical step forward for Open Banking, asks Andrew Boyajian, Head of Variable Recurring Payments at Tink? The JROC Report set a roadmap for Variable Recurring Payments. What’s next for VRP? It was a long time coming. In April 2023, the Joint Regulatory […]
The post Unlocking VRP: The next steps for Variable Recurring Payments appeared first on Open Banking Excellence.
How to comply with the four outcomes and three cross-cutting rules of the Duty to achieve higher standards of consumer protection The Consumer Duty is a major shift in expectations for the financial services industry. It places a huge responsibility on firms to understand customer needs, deliver good outcomes, and also support customers to meet […]
The post The Consumer Duty: Opportunities and Challenge For Financial Services Firms appeared first on Open Banking Excellence.
