Video Demystifying Open Banking

Open Banking is the term given to the process by which bank customers are being given greater control over their money.

In practice, this is achieved by the customers themselves – as opposed to the banks – having ownership of, and therefore the power to control, their data.

With the customer’s permission, third parties can then access the data, potentially offering them other – more relevant – services.

Please watch and share this video from the City of London, which explains Open Banking in more detail.