The Digital ID market is new, exciting and potentially a major growth opportunity in the UK. Lloyds Bank recently joined this emerging space by releasing a new Digital ID app with Yoti – Lloyds Bank Smart ID. The app gives people a more private, secure and convenient way to prove their age or identity from […]
The post Accelerating the Growth and Adoption of Digital ID With Lloyds Bank appeared first on Open Banking Excellence.
It has been almost six years since the Second Payment Services Directive (PSD2) came into force and laid the foundations for Open Banking in the EU and UK. Now Europe is preparing for the introduction of a sequel to this game-changing regulation: the PSD3. However, this time the latest Payment Services Directive is accompanied by […]
The post Evolution or Revolution? Preparing For The PSD3 appeared first on Open Banking Excellence.
Guidance on incentives, expansions to the mandate and multi-party schemes from Stephen Wright, Head of Regulation and Standards, Bank of APIs, NatWest Group. The UK has not yet unlocked the true potential of Open Banking, even though we have made tremendous progress. Since Open Banking launched in January 2018, seven million consumers and businesses have […]
The post NatWest’s Proposal To Unlock the “Unmet” Potential of Open Banking appeared first on Open Banking Excellence.
Many people in the UK are opposed to a government-issued ID. In some sections of society there is still an innate aversion to the idea of government having a deeper sight of citizen transactions. This creates an opportunity for the financial services sector. Banks are in a very good position to play the role of […]
The post Myth or Reality? Unlocking Bank ID in the UK appeared first on Open Banking Excellence.
Your guide to the Consumer Financial Protection Bureau’s (CFPB) imminent proposals for a new regulatory framework governing “Personal Financial Data Rights” The US will propose a new “Open Banking Rule” this year which will set the foundations for an ecosystem with the potential to become the largest in the world. This game-changing regulation has been […]
The post When Will The US Open Banking Rule Come Into Force? appeared first on Open Banking Excellence.
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.
