While the relaxation of Open Banking authorisation rules will help accountants provide long-term efficiency gains for their clients, patchy bank implementation means they should manage their expectations about when to expect the changes.
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TL;DR: The recent proposals by the FCA to remove the need for individual banks to reauthenticate customer consent every 90 days are very welcome and represent a significant improvement on the current process. However, we believe they should be extended to allow customers greater freedom to manage the duration of their consents, which in turn will lead to a richer customer experience and allow businesses to provide improved and more varied services.
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