Today (17 March) is the last day to submit reviews to the Financial Conduct Authority (FCA) regarding concerns on the implementation of open finance in the financial services sector.
In its call for input published in December 2019, the regulator asked for reviews to explore the risks arising from open finance in a bid to understand what is needed to ensure it develops in the best interest of consumers. It asked people to send in their reviews by today (17 March). According to the FCA, open finance would extend open banking principles to give customers more control over their financial data including savings, mortgages and investments. Examples of questions listed in the document included ‘what action can we take to help ensure the potential of open banking is ma...
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