By Osama Mansour
Publication Date: 2026-02-19 12:45:00
The financial industry is entering a new era where AI and new regulations around access to data are changing the way finance works. These changes give people more options to manage their money in new ways – and bring us closer to completely cashless payments.
Over the last century, banks have introduced new technologies such as ATMs, internet banking and smartphone apps to fundamentally change our relationship with money. Now, new regulations and initiatives around the world are forcing banks to allow fintech companies (companies that use technology to provide financial services) access to their customers’ banking data.
These include regulations such as the EU’s revised Payment Services Directive (PSD2), which aims to encourage innovation in financial products while protecting consumers’ data. In the UK, the CMA9 regulation serves a similar purpose. These regulatory changes are fundamentally changing the financial world.
Access to customer data enables greater openness in finance…