Travelex today announced that it is hosting a landmark event on the future implications of Open Banking, titled “Open Banking: Innovation Disguised as Regulation”. The event will take place from 6pm on the 28th March at the National Theatre. The event will explore how Open Banking is expected to change the financial services landscape by hearing from companies that will potentially have the largest transformative effect.
Open Banking came into force on the 13th January 2018, after being created in 2016, and has been touted as one of the biggest shake ups the banking industry has seen in recent years. It has been designed to allow consumers to give trusted companies access to their bank accounts so that they can securely move, manage and make money available more easily and efficiently.
With the first raft of services under the new law expected to come into use in the coming months, Travelex has assembled a panel of experts to examine what the future holds for the UK’s banking market. What will these services look like? What will their impacts be on the balance of the financial services landscape? Perhaps most importantly, how will consumers react to these new services?