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The third parties are tightly regulated. For instance, they need to be registered by the FCA as an AISP or a PISP for respectively showing account info and init
by stevesimmons 5y ago
The third parties are tightly regulated. For instance, they need to be registered by the FCA as an AISP or a PISP for respectively showing account info and initiating payments.
Personally, I am comfortable with that.
Your suggestion makes it more complicated for each bank, which means you won't get uniform, consistent coverage. Better to leave more space for Open Banking specialist providers to innovate, while regulating them tighly.