Open Banking's 'Sweeping' Fix: Clarity at Last, or Just More Fine Print?
Fintechs have waited years for a straight answer on 'sweeping' with VRPs. Open Banking's new Q&A promises clarity—but I've seen enough Valley smoke to question if it's real fire.
theAIcatchupApr 08, 20264 min read
⚡ Key Takeaways
CMA defines 'sweeping' narrowly: variable recurring transfers only, no one-offs.𝕏
Q&A helps TPPs but hedges with 'subject to change'—regulator escape clause.𝕏
Adoption lags; parallels PSD2 delays suggest real impact years away.𝕏
The 60-Second TL;DR
CMA defines 'sweeping' narrowly: variable recurring transfers only, no one-offs.
Q&A helps TPPs but hedges with 'subject to change'—regulator escape clause.
Adoption lags; parallels PSD2 delays suggest real impact years away.
