Open Banking: What, Where, Who and Why?

Payment innovation
Alternative Payments
Ian Macallister & Carl Henrik Somp -- Trustly
May 27, 2021
Open Banking in the United States: Is the US Ready to Catch Up? Open banking is a concept that is attracting a lot of attention around the world right now. This webinar session focuses on all relevant questions namely What, Where, Who and Why?

We'll explore how the recent trends and changes around the world—especially regulatory changes in the EU and UK—are likely to affect banks, fintechs, and other businesses in the US. We conclude that globalization is forcing US banks, fintechs, and other businesses to make internal changes to comply with EU and UK regulations, but these same changes also prepare them to join the open banking community.

Trustly has been in this space for over 10 years and operates across US and Europe, leading the way in PSD2 payments in Europe. We connect to banks via multiple integration points that are embedded in the flow of funds, allowing us to mitigate risk, offer faster settlement through our intra-bank network and deliver state-of-the-art reconciliation.

As our world becomes increasingly digital, consumers are demanding slicker, quicker, more personalized experiences that fit conveniently into their lifestyles. This creates a tough environment for merchants and service providers who need to meet this customer demand while controlling costs and growing their businesses.  Open Banking is one of the key initiatives helping to address both consumer and merchant needs when it comes to payments.

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