In June 2018 Martin Lewis, the U.K. money-saving expert, sat on the This Morning breakfast show sofa and explained how the new Open Banking regulations would herald a revolution in retail banking. He explained how banks will now need to share data, not only enabling customers to more easily move their money to those providers that deliver the best value, but also providing banks with the means to provide better financial support. Lewis gave the example of how banks would be able to advise on utility bills and cost of living. Unfortunately, given today’s financial challenges , the reality turned out to be not quite as rosy as Lewis’ vision.
Read more in https://www.datavirtualizationblog.com. Originally published on February 1, 2024.
