Blog: Open finance - an opportunity for the insurance industry?
Before the insurance industry fully realised the potential of open banking and the opportunities this Payment Services Directive 2 initiative affords them, the Financial Conduct Authority called for input to its 2020 open finance consultation paper. For the insurance sector, this means getting to grips with another concept says Stephen Walsh, EMEA director at Sensedia.
Whether it’s banking, finance or insurance, it’s clear financial services providers will in future need to develop new business models, products and ways of engaging with customers.
So what does
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