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EU vs UK: How open banking adoption differs on the Continent


EU vs UK: How open banking adoption differs on the Continent
By Aisling Finn on Wednesday 13 January 2021
Image source: Annie Spratt/Unsplash
Today marks the third anniversary of the implementation of the EU’s second Payment Services Directive (PSD2).
The first three years of open banking as we know it has not always been plain sailing, it’s taken a while for consumers to trust the financial innovation and there still remains a lot of misinformation about how banks use our financial data.
Open banking’s main aim is to make the financial industry more transparent and fair, with most fintechs utilising the technology to their advantage and incumbents following suit. ....

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