Morgan Stanley is moving staff to Frankfurt in time for the March 2019 Brexit deadline.
The EU's updated Payment Services Directive (PSD2) is expected to heighten competition among the banks, open markets to non-banking challengers and foster vigorous innovation across the financial sector.
The US bank, which already has 350 employees based in the city, will transfer some trading activities currently undertaken in London and create a further 150 to 250 jobs according to reports.
BNP Paribas is the latest in a long line of financial service companies to be penalised for misconduct during the financial crisis on both sides of the Atlantic.
Banks which start to prepare now for the region to join the move to immediate payments can secure a major competitive advantage.
Open banking promises to provide better services to consumers, more informed decision making and lower costs for banks. However it also requires a mindset change by the industry.
Nearly one in five organisations now regularly use artificial intelligence, according to the latest reports.
While offering a range of benefits, smart contracts also present users with major challenges and won’t fix inefficiencies in a company’s supply chain.
Over the last year, British politics has had a recognisable theme; unexpected ballots with unintended consequences - particularly for financial markets.
The banking industry is on the frontline of technology adoption, and with the rise of fintech, banks are facing increasing pressure to evolve all aspects of the traditional ‘brick and mortar’ model.