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Government assessing benefits of data-sharing and open data in banking

Computing - The government has launched a call for evidence on the benefits of greater data sharing and use of open data in banking, in an attempt to support the growth of the UK's financial technology sector.

The government said using open data could lead to more competition in banking and better deals for customers.

Whitehall wants to create a freely-accessible standard for developing software that enables customers to share their bank data with other products or services they use, so that they can benefit from easier ways to pay or special offers, for example.