Hi folks and welcome to the Meaningful Money Podcast season 9 episode 2.

Let's go.

This is the podcast dedicated to helping you put your finances in order.

My name is Pete Matthew and I'm going to share with you everything you need to know and everything you need to do to secure your financial future. I'm here to help you make sense of money.

Here we are once again. Great to have you with me. Thank you for joining me.

As of last week, that's 13th of January 2018, the new open banking rules came into force here in the UK

also called the Second Payment Services Directive or PSD2 this is a sweeping change to the way banks handle their really your data

But what are the changes and how will they affect you? Is there anything you need to do now? This is the latest in our

burning questions season. So after the main body of the show I'll look at some

reviews that have been left, usual drill, and that's what we're going to be

talking about next time, but remember before all that this podcast is brought to you with the help of my friends

at seven investment management who specialize in multi asset investing something I'm

always banging on about here and I think that should form the core of most people's portfolio.

7 I am I've been helping me out here on meaningful money for ages so please do check out what they're up to there at 7.I.m.

C. That's the number 7 I.m. dot code at UK. That's the number 7 I.M. dot

UK. So yes big changes are afoot in the world of banking and more changes are

still to come over the next couple of years as it all sort of filters out and

you know the initial trial periods are over and things like that.

What it all means is that your data will be yours to decide who gets access to it and therefore how it might be used to

make your life easier cheaper, more flexible. You know one of the most closed

industries is going to be opened up in the future and it's definitely

going to make a difference to how we manage our finances. So today I just want to

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