Article: Why open banking is finally gaining speed

Money, Open Governance

Why open banking is finally gaining speed

After a plodding start, open banking is finally gaining speed in the UK. Users grew from 1 million in January 2020 to 3 million this year. It’s still way behind target and lags countries such as South Korea, which has 20 million open banking users. But it is encouraging given open banking’s potential to revolutionise financial services.

The revised payment services directive (PSD2) that initially drove open banking is three years old. Its goal was to level the playing field for customers by giving third parties digital access to bank infrastructure.

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Article: A City Is Not a Computer

Cities, Innovation, Open Space

A City Is Not a Computer

“What should a city optimize for?” Even in the age of peak Silicon Valley, that’s a hard question to take seriously. (Hecklers on Twitter had a few ideas, like “fish tacos” and “pez dispensers.”) 1 Look past the sarcasm, though, and you’ll find an ideology on the rise. The question was posed last summer by Y Combinator — the formidable tech accelerator that has hatched a thousand startups, from AirBnB and Dropbox to robotic greenhouses and wine-by-the-glass delivery — as the entrepreneurs announced a new research agenda: building cities from scratch. Wired’s verdict: “Not Actually Crazy.” 

Which is not to say wise. For every reasonable question Y Combinator asked — “How can cities help more of their residents be happy and reach their potential?” — there was a preposterous one: “How should we measure the effectiveness of a city (what are its KPIs)?”

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