Experian Approved as Service Provider Under UK's Open Banking Rules
June 21 2018 - 9:26AM
Dow Jones News
By Adam Clark
Credit reference agency Experian PLC (EXPN.LN) said Thursday
that it has been given permission to offer services under the
U.K.'s new Open Banking rules.
Experian said it has been approved by the U.K. Financial Conduct
Authority to operate as an account-information services
provider.
"One bank has already signed up to use Experian's Open Banking
platform, and we're running several proof of concepts with other
clients so they can explore a range of innovative new services,"
Tom Blacksell, business-to-business managing director at Experian,
said.
Experian said it will launch services via financial technology
subsidiary Runpath, which it acquired in 2017.
The U.K.'s Open Banking legislation came into force on Jan. 13,
and is designed to promote competition among financial-services
providers. The nine largest account providers in the U.K. are
obliged under the rules to allow customers to share their data with
third parties.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
June 21, 2018 10:11 ET (14:11 GMT)
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