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From Open Banking Towards Open Everything

Open Banking initiatives bring technology at the forefront of finance by encouraging (sometimes even mandating) secure underlying account data sharing by banks. The main purpose is to enable third parties, mostly FinTech players, to utilize the open access to banking data, in order to provide value-add service applications that enable consumers to easier transact, save, borrow, lend and invest their money.

For example, in the UK, after the Open Banking Standard (OBS) finally becomes reality, an authorized third-party service provider, like an account aggregator, ...

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