By Miles receives FCA ‘open banking’ licence

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By Miles has announced that it has received an ‘open banking’ licence from the Financial Conduct Authority (FCA).

The licence allows the InsurTech to view to a wider range of financial data from consenting customers.

By Miles said the move would assist vulnerable customers who may have otherwise not been able to take out a policy, as well as enabling more flexible payment methods for existing customers.

The firm said receiving authorisation was evidence of its “comprehensive approach to data

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