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UK Regulators Set Up New Working Groups to Expand Open Banking

The Joint Regulatory Oversight Committee (JROC), which is co-chaired by the Financial Conduct Authority (FCA) and the Payments Systems Regulator (PSR), has set up 'dedicated workstreams' for the implementation of open banking in the United Kingdom.Open banking provides a way in which consumers and businesses can securely share their payment accounts' data with regulated third-party providers (TPPs) in order to receive customized services, such as lending and payments – an important aspect in the... Read More

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Posted: Jun 6 2023, 15:57

Author Name: financemagnates

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