Money Box Live: Will you join the open banking revolution?
Do you know what open banking is? In just over a month, customers can allow competitor banks access to their data so they can offer them better deals. Join Louise Cooper and guests.
Do you know what Open Banking is? You may already have had a message from your bank telling you all about it. It's been dubbed a 'banking revolution. In just over a month's time, we can allow other firms access to our data to give us better deals. Independent firms are expected to spring up to provide apps to help us with services from budgeting to offering financial products tailored to our needs. There are a number of consumer protections built into 'Open Banking'. The key one is that your bank will only allow firms regulated by the FCA to have access to your data if you have given explicit permission.
Join Louise Cooper and guests as they explain the basics of Open Banking.
Call 03700 100 444 from 1pm to 3.30pm on Wednesday 13 December or e-mail moneybox@bbc.co.uk Standard geographic charges from landlines and mobiles apply.
Presenter: Louise Cooper
Producer: Lesley McAlpine
Editor: Andrew Smith.
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