What are the 3 principles of Open Banking?

There are three core principles for Open Banking. This video explores those three principles and talks about the risks and opportunities involved. The 3 key principles of Open Banking are: 1. Real time sharing of data, including statements and transactional data 2. Real time initiation pf payments, that allows other organisations to initiate payments for you 3. Information of products and services that allows comparison Open Banking brings opportunities to work with new organisations and provide consumers new and innovative solutions but also creates new compliance and governance questions to ensure that organisations can protect consumers' privacy and support consumers to get the value out of their data. Find out more here: https://www.experian.co.uk/business/ We love what we do and one of our favourite parts is being able to share the nuggets of insight we gather, our expert knowledge and opinions on the latest trends so we can help professionals and businesses grow. Have a browse through our business insights and resources here: https://www.experian.co.uk/blogs/late... We also share insight on our social channels. Click below to find out more: • Visit our LinkedIn company page:   / experian   • Follow our Twitter account:   / experianb2b_uk   • Follow our Facebook profile:   / experianbusinessuk   • Listen to our podcasts:   / user-244371113   • Subscribe to our Experian YouTube channel:    / @experianukbusiness