EU’s Open Banking's Payments Transformation Faces FinTech Headwinds

The introduction of open banking in Europe has transformed the digital payments space, Lena Hackelöer, CEO at Stockholm-based instant payments provider Brite Payments, tells PYMNTS. But it is far from having reached maturity, she said, as the lack of standard rules on how banks should set up APIs complicates integration for FinTechs operating across the fragmented region.