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A step by sep approach to open Banking and You explains Open Banking and its relationship with the General Data Protection Regime (GDPR) in a simple, positive and friendly conversational approach. The illustrations are designed to show, in a few steps, how money flows and best practices on how to manage finances.Open Banking and GDPR are new legal regulatory requirements. GDPR gives you legal rights over your own information.Open Banking enables everyone, including the vulnerable, to become more effective at managing their finances. With new technology, complex activities can be completed in seconds. Banking is becoming transparent, even in such sectors as foreignexchange rates. For example, if you buy £1,000 worth of Euros from:• Foreign exchange provider A = you get 1112 Euros for £1,000• Foreign exchange provider B = you get 1143 Euros for £1,000You get 31 Euros more from provider B for the same £1,000 at no extra/hidden cost! If you want more from your money or to help vulnerable friends or family be financially better looked after, please read this book.“A Step by Step Approach to Open Banking and You is a timely contribution to the debate around data and how it is used in the digital age. Open Banking itself has the potential to be a real benefit to consumers, and the more that can be done to help people understand and make the most of it, the better.” Ashok Vaswani, Chief Executive Officer Barclays UK
