Article: Mastercard Report Finds UK and Nordics Lead Open Banking in Europe

Money, Open Governance

Mastercard Report Finds UK and Nordics Lead Open Banking in Europe

According to a new report by Mastercard, which conducted in-depth research into how prepared European countries are to embrace the open banking ecosystem, the Nordic countries have been crowned best placed to take advantage of it, together with the UK.

Open banking is fast becoming a worldwide phenomenon. It empowers consumers and businesses to take control of their financial data and their financial futures while stimulating competition and innovation among financial service providers. The report – ‘Open Banking Readiness Index: The Future of Open Banking in Europe’ – found the Nordics’ and UK’s digital infrastructures ensure the countries are very well-placed to allow widespread use of this concept.

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Article: Your Essential Guide to Open Banking

Money, Open Governance

Your Essential Guide to Open Banking

According to Mastercard, open banking is helping fuel a revolution in financial services. It can provide people with more convenient ways to view and manage their money and simpler ways to access credit or personalized deals and rewards. Open banking can also power different kinds of payment services, such as payments in video games or using business accounting apps.

The practice is already helping to widen access to financial services for millions of people and build on the broader introduction of real-time payments and other emerging payment technologies.

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