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Below is a lightly edited transcript of the podcast:
OBIE PROMO: Open banking is enabling new ways of managing your money, financial products and services that deliver better outcomes. They bring clarity and control into managing your finances. All your current accounts aggregated into a single stream, so that you ve got line of sight no matter how complicated life gets.
MIRIAM CROSS: This is a promotional video from the Open Banking Implementation Entity, a company formed by the UK’s Competition and Markets Authority to explain and implement open banking. Open banking is one of those buzzwords you have probably heard over the past couple of years. The term can mean a couple of different things depending on where you are or the context, but in general it refers to customers having control over their banking data and the ability to provide it in real time to third-party vendors. And that access can bring with it certain benefits.