By Seb Joseph

Soon banks will have to give third parties access their data and, as big a threat as this could be, Lloyds accepts that it will no longer be the sole provider of financial customer services and must work with fintechs to survive.

Like its peers, Lloyds is amidst its own existential crisis sparked by the revised Directive on Payment Services (PSD2) that will force banks across Europe to accept that they might not be best placed to deliver certain services anymore in an open banking API world.

Essentially, it amounts to the financial firm deciding whether it wants to eat Read full story ›

Source: The Drum