Has Open Banking changed anything 15 months on?
Has Open Banking changed anything 15 months on?
13th January 2019 marked one year since the UK embarked on its Open Banking experiment. Despite the inevitable teething problems, the initial signs are encouraging, as banks up their game in the face of strong competition from innovative third party products and services.
The Impact of Open Banking on the Lending Industry
Open banking and open APIs has transformed the banking industry and continues to make waves throughout a range of financial services and beyond. From levelling out the playing field and open data sharing, to the acceleration of platform economies and value-added services, open banking has truly turned a traditional industry on its head.
How can lenders capitalise on these opportunities? Who will own the customer relationship and win in this new environment? Hear from RBS, RateSetter, Atom Bank and more as they explore the impacts of open banking on the world of lending. #lending18 #MoneyLIVE
Hear about the impact of open banking from :
– Ian Roberts, Chief Credit Officer, RBS
– Maria Harris, Director of Mortgages, Atom Bank
– Rhydian Lewis, Founder & Chief Executive Officer, RateSetter
– Trevor Williams, Former Chief Economist, Lloyds Banking Group
– Yosef Kaplan, VP of Sales, Bee Eye
– Richard Carter, Managing Director, Equiniti Credit Services
– Michael Nicholls, Relationship Director, London Institute of Banking & Finance
– Christopher Soule, Director of Business Development, nCino
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How Open Banking is changing banking for the better!
I’m going to show you how #openbanking and the new #psd2 directive in Europe is going to change the way we do banking. With open banking, we’ll have instant access to our accounts, new financial services and more choice in where we bank. So what is open banking? What are the benefits of open banking? And what does it mean for the future of banking? The future of banking is open. I’m going to show you how open banking and the new PSD2 directive in Europe is going to change the way we do banking. With open banking, we’ll have instant access to our accounts, new financial services and more choice in where we bank. So what is open banking? What are the benefits of open banking? And what does it mean for the future of banking?
00:35 What is Open Banking?
02:37 Who will benefit from Open Banking?
03:58 How will this all put in place?
04:45 What are today most dynamic Open Banking markets?
06:15 Other benefits!
07:30 What will the role of regulators be?
08:17 Open Banking potential
08:45 Bonus Fact
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Why no one has savings accounts anymore!
Putting your money into a savings account is a terrible way to make passive income. The bank might pay you around 0.01% on the money you save, which is very little when considering a good profit would require a large amount of money to be put in the savings account to begin with…
Instead, buying shares of your bank gets you dividends, which have a higher percentage compared to a savings account. By buying shares you can make a lot more profit than you would by saving.
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#Shorts #Finance #Savings #Money #Bank
Embrace Open Banking – The next level of customer experience
Watch industry experts – Paul Rohan, author of “Open Banking Strategy Formation”, and Gianluca Corradi from Simon-Kucher & Partners express their views on the Open Banking revolution.
Know what it takes to transform and elevate to the next level of customer experience.
SunTec Business Solutions provides proven solutions and is a trusted partner to global banks. Our flagship product, Xelerate®, empowers banks to embrace Open Banking, and get ahead of competition, by innovating rapidly on business models to aggregate and deliver true value to customers through collaborative partner ecosystems. It achieves this using end-to-end management, monitoring, and monetisation capabilities across the value chain.
Click here to know more about our Open banking solution – https://goo.gl/xsMU7h
You could also write to us at [email protected] and we will get in touch with you.