NEWS
Study shows one in three nations now on the Open Banking journey
new study from the Open Finance technology and advisory
A services provider , Konsentus , has found that there are now more than 65 national open banking programmes globally .
Konsentus has updated its Global Open Banking and Open Finance Map to include richer data on the evolution of open banking across the world .
It reveals that open banking , the new wave of financial data access , has reached a significant milestone , with 68 countries ( representing 35 % of the world ) either live or in development .
The Konsentus study showed there is a clear regulatory push towards open banking , with 64 % of open banking initiatives being mandatory via legislation . Only four markets are currently pursuing a marketled approach and 26 % of initiatives lack formal regulation but have strong regulatory support and a centralised programme approach .
The hybrid approach has started to emerge as popular , particularly across Asia . However , the analysis shows there is no
‘ one size fits all ’, with each jurisdiction taking a slightly different approach to their implementation to meet local requirements .
In addition to assessing whether markets are regulatory , hybrid or market-led , the map now categorises countries based on whether their ecosystems are live or in development . It also reflects if the market is focused on open banking or has pivoted to open finance .
Revolut introduces a powerful set of tools for advanced traders across the EEA
and insights for advanced traders , designed to enhance their trading experience .
With Trading Pro , active investors can now benefit from discounted commission fees and also provides access to higher order limits on US and EEA stocks and Exchange Traded Funds .
For data-driven decisions , Trading Pro users can access advanced portfolio analytics , including performance benchmarking , realised profit and loss tracking , portfolio allocation and more .
Revolut , a financial app with more than 35 million customers worldwide introduces Trading Pro , a set of tools
Revolut has also introduced extended market hours trading for US stocks , for all its users . Rolandas Juteika , Head of Wealth and Trading ( EEA ), Revolut , said : “ Trading Pro is tailored to meet the specific needs of advanced traders , offering them a set of tools designed to enhance their trading capabilities . We see an increasing customer base with higher portfolio values using Revolut for bigger trades , with the need for deeper portfolio analytics and desktop tools .” www . intelligentfin . tech
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