Much like Tink, the trustee for the UK’s Open Banking Implementation Entity (OBIE) has big visions for the future of data-driven banking. He says it’s only a matter of time until the full scope of customer data is available for fintechs to use to build innovative new products.
“Everyone agrees with the fundamental principles – that data belongs to the consumer and not to the organisation,” Imran Gulamhuseinwala told us at the Money20/20 conference in June.
“Then I think we’re going to start looking very much at other products – mortgages, savings accounts,” he says. “Then other products outside of banking – insurance and so on. And if the UK is anything to go by, we’re already having discussions about water, energy, telco, broadband, utilities – the whole gamut.”
The latest EBA Opinion calls for the removal of obstacles that obstruct TPP’s access to accounts for open banking services. Here’s our take on the most important bits of the Opinion, and what it means for banks and TPPs alike.
We interviewed Matteo Concas, Head of Global Digital Banking Solutions at Enel X. Here’s why one of the largest energy companies in Europe is looking to financial services – and open banking – to bring more value to their customers.
Gone are the days when banks and fintechs battled for the financial services crown, as collaboration proves king. Tink’s Rafa Plantier takes a look at how banks and fintechs have worked out they’re better together.