Money Mover Blog Open Banking - what is it, and why do I care?

By now you've probably heard about open banking. You may have even received a cryptic letter from your bank, asking for permission to do all sorts of things, and are wondering what all the fuss is about.What is Open Banking?As Money Mover users and supporters, you'll probably agree with me that banking has been dominated by a small number of large players for too long.Open banking seeks to change this by making it easier for to work with other banks and financial institutions, whether it's to switch accounts or access new products and services.The point of all this is to encourage innovation and improve competition in the financial sector.