Cards and Payments - Part 15 | Understanding Open Banking

#cards #payment #openbanking #paymentprocessing #banking
Hi Everyone , In this video we will look into an new merging concept which is now very popular in the UK and European Markets. It is called Open Banking.
It is a concept that allows financial institutions to share customer data with each other for improving overall efficiency like reducing payment fee and also providing the best value services to the customer.
chapters:
Understanding and Relevance of Open Banking : 00:00:09
Key Terms and Definitions in Open Banking: 00:03:34
Comparing Traditional Banking with Open Banking: 00:09:27
FCA guidelines on Open Banking : 00:12:52
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I hope you like the video. Please don't forget to like , share and subscribe with your friends as well
Please also visit my website www.ezeefied.com for a lot more other useful resources.
Links and Image credits:
Photo by Markus Spiske from Pexels: www.pexels.com/photo/green-an...
Photo by Markus Spiske from Pexels: www.pexels.com/photo/green-an...
Photo by Pixabay from Pexels: www.pexels.com/photo/bullion-...
Photo by Kris Christiaens from Pexels: www.pexels.com/photo/white-oi...
Photo by Kampus Production from Pexels: www.pexels.com/photo/men-work...
Photo by Expect Best from Pexels: www.pexels.com/photo/building...
Latest API Reference can be found at :
openbankinguk.github.io/read-...
Screenshot of the news on open banking :
www.uktech.news/fintech/open-...
Link to CMA
www.gov.uk/government/organis...
Link to FCA guidelines on Open Banking :
www.fca.org.uk/consumers/acco...

[@sanjayanand827]

Thank you for simplifying!

[@moneisikopo5090]

Informative video with the illustrations makes easier to follow. Please make more videos on Banking Tech and Fin Tech

[@gosayezenebe4377]

Thanks once again!

[@vikrambhaik5010]

great video 👍

[@nihalshetty6073]

Please create a complete comprehensive list of videos on Open banking just the way you have created videos on payment

[@ezeefied]

Great suggestion . what topics do you think should be covered in this list ?

[@FarazAhmad-fl8xq]

Hi Saurabh, thank you for this amazing series. You have explained all the concepts in a very clear and easy way. I hope this channel reaches every single person who is working in the fintech industry. Just one request from my side (which you can obviously reject) is to make a video on how the backend system of a payment network works, i.e. mastercard or visa etc. How requests are routed via directory server, and what are major applications(services) that come into play during an online transaction. Also, some additional information on ACS would be really helpful. 😊 Keep up the great work! Waiting for your future uploads 😃

[@ezeefied]

Hi Faraz , thanks for your feedback and encouraging words. I am glad you liked the content. There is already a video made on the topic you mentioned under 3DS authentication. Let me know how it is

[@deepakchandra8865]

Thanks Saurabh, Your videos are really very healpful !

[@ezeefied]

Glad you found them useful

[@jyshaikh]

Thank you for your video. This is useful. However I'm still not able to find out the benefit for Bank. ❤

[@ezeefied]

Cross selling opportunities

[@sohiniroy8315]

Hi Saurabh, Thank you for such an easy videos on payments. I am interested in knowing more about real time payment flow,what are new PISP/AISP in EU and how can payment processes can be improved in a ecommerce/business.

[@ezeefied]

Yeah Sohini. Those are interesting areas . I will see if I can make something on those

[@priyankshah8]

Pls dive deeper into subject.

[@venelinkabakchiev9942]

Hi Saurabh, thanks for all the content you are putting out. To your question: could kindly delve deeper into Open banking (i.e. APIs, etc.)? That would be great help for us :)

[@ezeefied]

Hi Venelin , honestly that’s in the agenda but it’s just that currently trying to cover various areas horizontally :) but hopefully sometime soon should be able to delve deeper into OB

[@venelinkabakchiev9942]

@@ezeefied Thank you Saurabh!

[@raginidubey3764]

Please share information on cross border payments

[@ezeefied]

Hey Ragini ! Is there anything in specific in cross border payments you are looking at