The UK's major banks are being shown a clean pair of heels by non-bank competitors in the Open Banking space, with new announcements by TrueLayer in tandem with Zopa, and Openwrks demonstrating the determination of third party providers to open up access to consumer account data.
Zopa has worked with TrueLayer to create an income verification product which removes the need to manually upload documents to verify income - replacing it with Open Banking data. Marie Steinthaler, head of new products at Zopa, says: “Through our partnership with TrueLayer, we have created a streamlined and secure process, and have already seen very promising uptake from customers choosing to verify their income using this method. We look forward to creating an even better experience for our customers by making the most of Open Banking data, and we’re already working hard on our next set of innovative features.”
https://www.finextra.com/newsarticle/31653/openwrks-zopa-and-truelayer-get-into-open-banking-groove
