Open Banking Service Providers
Technology has completely changed how we do daily tasks in the digital world, including banking. As a result, the financial sector has undergone major changes throughout the years, with Open Banking being one of them. A new class of financial service providers called Open Banking Service Providers has emerged as a result of this novel idea. With a particular emphasis on Orchard Funding, we will examine the function of OBSPs and their effect on the financial sector in this blog. So, what is Open Banking really, and how does it operate? A legal framework called "Open Banking Service Providers" enables independent financial service companies to access consumer information and offer cutting-edge financial solutions. Customers now have more control over their data and access to a wider choice of financial services thanks to this framework, which enables them to securely exchange their financial information with authorized third-party providers. Orchard Financing is one such busine