InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
This become the first corporate bank to make use of UK's Open Banking regime? |
| Answer» According to the open banking regime the European Banks are required to share customer data with third party banks upon the customers' approval. Citi Bank is the first to enroll as "Payment Initiation Service Provider". This would enable it to receive small payments directly from UK's customer bank accounts without debit or credit cards. This initiative will be less time consuming and cheaper compared to other alternatives like PayPal etc. | |