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May 1, 2015 10:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/_EwpThjb0kI/how-an-open-standard-api-could-revolutionize-banking
How an Open Standard API Could Revolutionize Banking
An anonymous reader writes: Open bank data will give us the freedom to access all banks in real time and from a single view, automatically calculating the best deals in complete transparency, which will be a significant step forward for social good and give people more control over their finances. Meanwhile, financial tech incubators, accelerators, and startups are creating a more experienced talent pool of developers ready to act upon these newly available assets. From the article: "The United Kingdom government has commissioned a study of the feasibility of UK banks giving customers the ability to share their transactional data with third parties via an open standard API. First mentioned alongside the autumn statement back in December, the chancellor has now outlined plans for a mandatory open banking API standard during the recent budget in March."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/_EwpThjb0kI/how-an-open-standard-api-could-revolutionize-banking
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