Contestable Markets: Challenges and Opportunities from Open Banking

Here is a revealing interview with the CEO of Clydesdale and Yorkshire Banking Group which highlights the possible impact of new Open Banking rules that come into force in January 2018.

Open Banking means that customers can choose to securely allow their banks to share details with other banks and financially regulated companies perhaps in search of better deals and improved quality of service from other financial institutions. 

It could open the way for technology companies such as Amazon and Facebook to effectively enter the financial services industry and make commercial banking more contestable. Read more about open banking here.

Here is a selection of further reading on open banking