Savings

What is the Open Banking revolution ?

Over a year and a half ago, a digital revolution introduced a new way for people to handle their money: open banking. All of a sudden at the touch of a button, you could compare household bills, control direct debts and track payments across each of your bank accounts. Consumers can now provide their consent to allow for financial transaction data to be accessed without requiring them to give their personal login credentials to a third party. The government backed the new development with the aim of bringing more competition to the marketplace. Specifically, the law requires UK banks to Read More