ETPPA - Ruth Wandhöfer - UK developments on Open Banking

Interviews
Written By Sophie Evans

  • UK led early with standardised Open Banking API and strong governance (CMA)

  • Europe fragmented with various standards, leading to quality and uptime issues

  • PSD3 revision in Europe aims to address these issues and introduce new functionalities

  • UK lags behind in defining next steps beyond VRP (Variable Recurring Payments)

  • Open Banking evolving to Open Finance in both regions, with more use cases expected

  • UK introduces APP scam regulation for shared liability between sending and receiving banks

Sophie Evans
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Mr. Open Banking