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Open Banking in Europe Versus the United States
The market penetration of open banking in the us is miles ahead by per capita, probably ten to one. The european commission and the e b a will need to work on figuring out a plan mitigate those circumstances which are causing their policy to fail. We could end up where, if a customer is multied, that they can't get a full view of their financial life. And it's been similar in new zealand with banks starting to forge ahead without getting legal and privacy frame work established. It is no high level of market penetration but continually deteriorating.