Main fintech gamers together with Plaid, Truelayer and Yapily have banded collectively to launch a not-for-profit commerce affiliation pushing open finance within the UK and EU.
Now, the Open Finance Affiliation (OFA) is seeking to carry the advantages of open banking to a broader array of monetary merchandise.
Backed by a number of main fintechs, together with GoCardless, Volt and Worldpay, the OFA has appointed Nilixa Devlukia, who has held senior roles on the FCA, Obie and EBA, a chair.
The affiliation has set three priorities: enabling customers and companies to entry their knowledge throughout all their monetary accounts.; growing the adoption of a aggressive and handy instantaneous fee methodology base on open funds; and selling a sustainable open finance ecosystem.
Says Devlukia: “By means of the promotion of an API-focused agenda in each funds and knowledge, OFA goals to advertise a wholesome and sustainable fintech ecosystem, through which customers and companies all profit from improved, progressive companies.”