• Nancy Kalogeropoulou , UK Country Manager at Fidor Bank


• 27.02.2018 08:30 am
undisclosed

With it estimated that the new Open Banking initiative could provide a £1 billion boost to the country’s economy, it highlights how the UK has taken a leading role in implementing innovative, far-sighted policy decisions.

However, financial organisations should not just rely on Open Banking to drive innovation. Instead, I believe they should do beyond the initiative by integrating the APIs of their competitors to launch cutting-edge personal finance tools and products. This would benefit both banks and consumers, while also keeping the UK, and especially London, as one of the fastest-growing and most reputable fintech hubs globally.