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Open Banking 'revolution' to challenge banks' dominance

A fundamental change to the way people can bank, manage and spend their money in the digital world is under way.

A change in the law and the start of the Open Banking system means people can allow businesses, other than their bank, to access their financial data.

Organisers say this has the potential for consumers to get better deals, such as cheaper overdrafts, and to speed up the switching process.

But warnings over fraud risks have al…
BBC News – Business

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