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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Featured Pathways

More pathways

Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Book a demo

Pricing

Ready to get started?

Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

Book a demo

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What is Open Banking?

What is Open Banking?

Gilad Amir

20 years: Financial technology & banking

In this video, Gilad explains the meaning of open banking. He further explains its purpose and the initiatives that are likely to be seen in the future.

In this video, Gilad explains the meaning of open banking. He further explains its purpose and the initiatives that are likely to be seen in the future.

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What is Open Banking?

2 mins 21 secs

Key learning objectives:

  • Define Open Banking

  • Outline the purpose of Open Banking

  • Learn the evolution and future of Open Banking

Overview:

Open banking is an initiative aimed at increasing competition and consumer centricity in retail banking. Open banking has many safety and security safeguards that place customers at the centre of power.

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Summary
What is open banking?
Open banking is an initiative that has been led by the CMA, the UK Competition and Market Authority, to push the UK’s 9 biggest banks to comply with the UK implementation of PSD2, the European Payment Service Directive 2. Both PSD2 and open banking initiatives are aimed at increasing competition and customer centricity in retail banking, by requiring banks to provide authorised third parties, or TPPs, access to their customers data and initiate transactions on behalf of their customers, through a designated interface that is called  the Application Programing Interface (API).
What is the purpose of open banking?
Open Banking is part of a series of initiatives that should increase competition in retail and Small Business banking, by letting customers decide who can access their data and initiate payments on their behalf. As simple as it may sound, this new initiative fundamentally changes and shifts the balance of power between banks and customers.
Which additional initiatives can we expect to see in the future?
Open banking is an ongoing process and will continue to expand to other types of data, accounts and services including pensions and other investment accounts, loans, mortgages accounts switching. In addition, there are different assumptions about the coverage of Social Networks’ data as part of open banking.

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Gilad Amir

Gilad Amir

Entrepreneur and CEO with experience in business and consumer lending, banking and fintech.

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