Discussion: Why are Open Banking Deadlines not met? - ERP Spain.com - España y América Latina

It was a setback when UK’s biggest lenders’ missed deadlines surfaced around the open banking rules! Are banks stalling the inevitable future of Open Banking? Open banking is set to make a transformational change to banking for personal customers and small businesses, forcing UK banks to open up their data via a set of secure application programming interfaces (APIs). This will bring banks to shift from being one-stop-shops for financial services to open platforms where consumers can start to embrace a more modular approach to banking by giving verified third-parties direct access to this data. Under these changes, the challenger banks are up for a win-win situation since they can now offer personalized solutions to their customers while the move for a customer from one bank account to another becomes easier. Aspire Systems welcomes you to the second session of the Millennial Banking Day. Millennials today are transforming the way banking is done. In a world where all other industries have started to serve their millennials at the speed and scale to keep them engaged, this puts a huge pressure on banks to innovate in such a way that millennials witness personalized banking experiences intuitively at the speed of light. Join us for a 45 minute Q&A session with best known experts from the fintech industry to discuss reasons for banks to miss these open banking deadlines and how banks can start to detect early successes with open banking. Hosted by – Krittika Banerjee, BFSI Research Analyst, Aspire Systems