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Open Finance Coalition aims to leverage data to accelerate UK fintech growth

Phone in hand against open banking graphc
Photo: Sean Gallup/Getty Images

Martin Cloake

1 min read
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Initiative targets September for initial proof of concept and specific output.

HSBC, Lloyds Banking Group, Mastercard, Revolut and IBM are among the founding members of the Open Finance Coalition announced by the Centre for Finance, Innovation and Technology (CFIT) this week.

The Coalition aims to “demonstrate the power of leveraging financial data to deliver better financial outcomes to consumers and SMEs”.

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