Finance Monthly - November 2021 Edition

Open banking emerged in the UK and Europe during the 2010s to encourage innovation in a financial services sector that was not moving with the times. This refers to a banking practice that gives third-party financial service providers open access to consumer banking, transactions and other financial information via application programming interfaces (APIs). The sharing of financial information has enabled customers to access user-friendly interfaces and make faster, easier and more secure payments. How Does Improve Cross-Border Payments? Stan Cole Head of Financial Institutions at Inpay OPEN BANKING Bank i ng & F i nanc i a l Se r v i ce s 46 Finance Monthly.