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Open Banking, the UK Experience

BY | April 12, 2021

The paper explains what open banking is, why the Competition and Markets Authority adopted it as a remedy and describes the arrangements the CMA required the 9 largest current account…

The paper explains what open banking is, why the Competition and Markets Authority adopted it as a remedy and describes the arrangements the CMA required the 9 largest current account providers in Great Britain and Northern Ireland to put in place in order to implement it. The paper provides examples of open banking products which have been launched, both to save consumers and small businesses time and money and also to provide help and advice for financially stretched or vulnerable consumers. T

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