Welcome to the August 2019 edition of Legalflyer
The UK continues to be the global pioneer in open banking through the implementation of the EU Payment services Directive (PSD2) and the open banking initiative by the Competition and Markets Authority (CMA). However, through regulatory reforms and/or market-led initiatives, many jurisdictions are now catching up.
The aim of open banking is to foster competition and innovation within the financial services industry, resulting in a better banking experience for customers, and it has the potential to transform the global banking landscape.
Working with our colleagues across the globe, we have produced a comparative guide to open banking as part of our NRF Institute, to help our clients understand how open banking is being treated in key jurisdictions and the different approaches to implementation.
You can use the guide to
To request access to the open banking guide, please register to join the NRF Institute.
Registration indicates acceptance of the terms and conditions which include important information about how our product will be delivered.
Members of the NRF Institute can access a range of premium content including knowledge hubs and cross-border guides.
While trade tensions among various countries continue to cast dark clouds over the global economy, the Chinese government has been demonstrating to the world its firm resolution to accelerate the opening-up of its economy to foreign investment.