Open banking: Difference between revisions
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== See also == | == See also == | ||
*[[Application programming interface]] | *[[Application programming interface]] (API) | ||
*[[Blockchain]] | *[[Blockchain]] | ||
*[[Competition & Markets Authority]] (CMA) | |||
* [[Data]] | |||
* [[Database]] | |||
*[[Disruptor]] | *[[Disruptor]] | ||
*[[Financial Conduct Authority]] (FCA) | |||
*[[Fintech]] | *[[Fintech]] | ||
*[[HM Treasury]] (HMT) | |||
* [[Joint Regulatory Oversight Committee]] (JROC) | |||
*[[Open banking APIs]] | *[[Open banking APIs]] | ||
*[[Open Banking Implementation Entity]] (OBIE) | |||
*[[Open finance]] | |||
*[[Payment Systems Regulator]] (PSR) | |||
*[[PSD2]] | *[[PSD2]] | ||
*[[Regtech]] | *[[Regtech]] | ||
* [[Variable recurring payment]] (VRP) | |||
==Other links== | ==Other links== | ||
[https://www.treasurers.org/hub/treasurer-magazine/why-open-banking-will-be-better-corporate-treasurers Why Open Banking will be better for corporate treasurers, Web exclusive, 2019] | * [https://assets.publishing.service.gov.uk/media/65806cb8e305f0001342e25b/JROC_Q4_Statement_on_Progress_Update_Dec_2023.pdf Update on actions to enable the next phase of open banking in the UK - Joint Regulatory Oversight Committee - December 2023] | ||
*[https://www.gov.uk/government/publications/joint-statement-by-hm-treasury-the-cma-the-fca-and-the-psr-on-the-future-of-open-banking/joint-statement-by-hm-treasury-the-cma-the-fca-and-the-psr-on-the-future-of-open-banking Joint statement by HM Treasury, the CMA, the FCA and the PSR on the future of Open Banking - Published March 2022] | |||
*[https://www.treasurers.org/hub/treasurer-magazine/why-open-banking-will-be-better-corporate-treasurers Why Open Banking will be better for corporate treasurers, Web exclusive, 2019] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Latest revision as of 15:22, 20 January 2024
Banking competition.
1. UK Open Banking project.
A UK government-sponsored initiative focused on an open standard for Application Programming Interfaces (APIs) for UK banks to:
- Increase competition and innovation in and around banking to improve outcomes for customers; and
- Thereby support the fintech industry in the UK.
One of features being developed is the freedom of the bank account holder to have their information shared with whom they choose. This will enable a corporate to collect information, such as bank balances and outstanding foreign exchange trades, from all their banks through APIs and have these reported into a central database such as a Treasury Management System (TMS).
2. Similar initiatives in other jurisdictions.
See also
- Application programming interface (API)
- Blockchain
- Competition & Markets Authority (CMA)
- Data
- Database
- Disruptor
- Financial Conduct Authority (FCA)
- Fintech
- HM Treasury (HMT)
- Joint Regulatory Oversight Committee (JROC)
- Open banking APIs
- Open Banking Implementation Entity (OBIE)
- Open finance
- Payment Systems Regulator (PSR)
- PSD2
- Regtech
- Variable recurring payment (VRP)
Other links
- Update on actions to enable the next phase of open banking in the UK - Joint Regulatory Oversight Committee - December 2023
- Joint statement by HM Treasury, the CMA, the FCA and the PSR on the future of Open Banking - Published March 2022
- Why Open Banking will be better for corporate treasurers, Web exclusive, 2019
