Having attended the Paris FinTech Forum this week, trust seemed to be a recurring topic. Specifically, in the adoption of open banking services.

You’ve heard about it. You might’ve even used it. But do you know what open banking really is, the products and services it powers, and how it works? And did you know that it actually refers to two separate things?

The open banking hype has mainly focused on the consumer marketplace. However SME’s can also hugely benefit. Accounts and transactions can be consolidated improving cash flow management. Payments can be made at a far lower cost and far faster as well as cool stuff including “pay me” buttons in invoices to speed up receivables.

Open Banking Limited is a company mandated by the CMA to ensure that the nine largest retail banks and building societies in the UK meet the deadlines of PSD2 by delivering a common standard of financial APIs.

Read more on the Open Banking website or at https://www.yapily.com/what-is-open-banking

Open Banking could “unlock the future” of financial services through better and more efficient use of data, according to speakers at the Open Banking Expo 2019.

It’s not every day that you get to join one of the most consequential, innovative, disruptive start-ups in the London fintech scene. And even rarer to do so just before they move to a new, cooler (in every sense of the word) and more comfortable office.

With regulatory rollout fast approaching from Paris to Tokyo we’re all asking: what came first, Open Banking or ‘open banking’?