Will Open Banking usher in a new era of customer-centric banking?

Can traditional banks promote cultural change quickly?

The revised Payment Services Directive (PSD2) comes into force immediately and means that banks are forced, with the customer’s consent, to share customer account details with other providers.

In addition to the six major UK banks, competitors will thus have the data they need to offer attractive, personalized product offerings from loans to checking accounts.

New “aggregators” like Mint …

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