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OPEN! Open Payments and Their Impact on Banks

There is a great deal of buzz around open payments today. But it’s not white noise to be ignored. The industry is going OPEN – open technology (APIs), open collaboration (partnerships), and open choices (more customer options). Whether the push towards open payments is regulatory driven – like in the EU with PSD2 – or a response to market demand – like with the open and fair access model for faster payments in the UK – the impact is the same; more innovation and competition.

As a bank, you must embrace OPEN in order to align with the new market trends, like globalization and mobile technologies, and compete effectively.

Highlights include:

  • The key, guiding principles behind open practices
  • Why regulation is a friend, not a foe
  • What processors and networks should do to become more open
  • The business value of open payment processes