The UK s Open Banking regime has turned three years old.
This marks an opportunity to look back at its successes so far and the challenges it faces post-Brexit.
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The UK s Open Banking Implementation Entity (OBIE) has marked three years since open banking went live across the UK and Europe, per a press release seen by Insider Intelligence. Since the EU s PSD2 came into effect on January 13, 2018, regulated third-party providers (TPPs), such as fintechs, can integrate with banks APIs to access consenting customers bank data and offer financial products.
Buy now, pay later solutions are continuing to grow in popularity as people seek alternative methods of financing.
The BNPL industry will rack up $680 billion in transaction volume worldwide in 2025. You can learn more in our Buy Now, Pay Later Report.
Buy now, pay later (BNPL) solutions, which allow consumers to pay in interest-free installments, are continuing to grow in popularity as people seek alternative methods of financing a trend exacerbated by the coronavirus pandemic. And with the swelling market comes heightened competition amongst financial services companies. BNPL solutions are growing in popularity as people seek alternative methods of financing.