The Financial Data and Technology Association (FDATA) has announced that Sainsbury’s Bank has joined as a member. Sainsbury’s Bank is the first bank to join FDATA, and takes its total number of members to 14 at a critical time for the implementation of open banking.
Sainsbury’s Bank was the first supermarket bank to be established in the UK, and provides loans, credit cards, insurance products, savings accounts, and travel money.
FDATA’s members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their accounts, credit cards, loans and investments.
Commenting, Andy Maciver, FDATA’s Executive Director, said:
“This is a great development for FDATA, as we welcome our first challenger bank into the membership. This shows the breadth of FDATA’s membership, which as well as Sainsbury’s Bank now includes personal finance management platforms, credit reference agencies, accountancy providers and lenders, amongst other industries.
“We are entering a crucial time for the creation of an open banking regime and the implementation of an API. Sainsbury’s Bank is a forward-thinking bank that puts its customers at the heart of everything it does and making the right decisions for its customers is a key part of this. We are delighted to have their influence and expertise as part of our membership.”
Sainsbury’s Bank Chief Customer Officer David Jones said:
“We are looking forward to engaging with the FDATA members and their stakeholders and ensuring we stay well-informed and well-positioned to look after the needs of Sainsbury’s customers in the ever-changing world of digital and data management.”