For hundreds of years, banks have been following a simple yet effective business model – they take money in from depositors and lend it out to borrowers. Despite public consensus, there is nothing more complex than that.
More than 87% of countries have already established some form of Open APIs in the banking industry. According to LearnBonds, there are over 10,000 financial institutions around the world with open banking implementations.
A number of tweets earlier this week from some disgruntled customers revealed accusations that the Apple Card credit card managed by Goldman Sachs offered different credit limits for men and women with similar circumstances and backgrounds.