2 ms·
> Why are these API banks always in the UK? I can think of 835 million reasons: https://www.reuters.com/article/eu-rbs-britain/corrected-uk-agrees-1-1-bln-deal
by orra 3y ago
> Why are these API banks always in the UK?
I can think of 835 million reasons: https://www.reuters.com/article/eu-rbs-britain/corrected-uk-agrees-1-1-bln-deal-with-eu-to-settle-rbs-state-aid-concerns-idUSL9N1JB01D https://www.reuters.com/article/eu-rbs-britain/corrected-uk-...
Plus, Open Banking and Faster Payments (which were EU initiatives before Brexit) maybe helped.
- blibble 3y agofaster payments had nothing to do with the EU "open" banking did (and accordingly you have to be a large company to participate at all)
- j16sdiz 3y agoInstant interbank transfer is basically everywhere[1] - China, India, Korea, Singapore, Malaysia, Indonesia, etc... [1] https://www.imf.org/-/media/Files/Publications/WP/2022/English/wpiea2022228-print-pdf.ashx https://www.imf.org/-/media/Files/Publications/WP/2022/Engli...
- sumek83 3y agohttps://en.wikipedia.org/wiki/Single_Euro_Payments_Area https://en.wikipedia.org/wiki/Single_Euro_Payments_Area
- blibble 3y agoyes, the EU launched a separate instant payment scheme a decade later doesn't mean the EU had anything to do with the UK's domestic faster payments scheme (SEPA is also euro only)
- orra 3y agoI was thinking of PSD (the original one), but it turns out that only required end of next business day settlement.