Europe's Fintechs to Pay Banks for Customer Data
Fintech platforms in Europe are expected to pay banks for "premium" customer data by 2026, according to Stefano Vaccino, CEO of Yapily.
European fintechs will pay banks for premium customer data, such as email addresses and mortgage account details, in the near future.
This prediction comes as US banks are openly discussing charging open banking fintechs for access to their customers' data.
- Banks can tap into AI-led compliance, says group CEO Ben Richmond.
- Gilts are also being targeted.
- 15% of euro funds are unready for margin calls, highlighting the need for change.
The traditional opaque financing playbook is being used once again.
Author's summary: Fintechs to pay banks for customer data by 2026.