Open Banking
This weekend saw the launch of the ‘Open Banking’, a term not many of us will have come across before. Open Banking requires banks to share information about our financial records with authorised 3rd parties with the aim of allowing us greater freedom and flexibility in managing our finances. This might set alarm bells ringing due to the potential for fraud if information is disclosed incorrectly or to spurious unregulated companies, but the key term here is ‘authorised’. No