朗迪的這份報(bào)告里有非常多的金融科技詞匯以及開放銀行的概念描述詞匯，是個(gè)非常好的學(xué)習(xí)材料。

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Whitepaper
2018
白皮書
2018

The State of Open Banking

直譯：開放銀行現(xiàn)狀
意義：開放銀行前沿
（但英語中 the state of the art 是“最先進(jìn)、最前沿“的意思，所以不難看出作者取這個(gè)標(biāo)題是有向最前沿致敬的意思）

Why today’s early implementation steps are leading to a financial revolution
為什么當(dāng)今早期（開放銀行）實(shí)踐步伐正在引發(fā)一場金融革命

（英語中常會(huì)省略文章的主題，默認(rèn)讀者是知道的，但中文翻譯過來時(shí)必須加注，不然語句不通順，意思也很難理解）

This white paper addresses commercial banks, other financial service providers, fintech startups, investors, and more, regarding:
本白皮書所論述的對(duì)象是商業(yè)銀行、其他金融服務(wù)機(jī)構(gòu)、金融科技創(chuàng)業(yè)公司、投資者等，關(guān)于以下內(nèi)容：
? Drivers and benefits of Open Banking initiatives
開放銀行嘗試的驅(qū)動(dòng)力與獲益
（initiatives的意思有好多種，在這里翻譯為“嘗試”比較合適）
? Regulatory frameworks around the globe
在全球范圍內(nèi)的監(jiān)管框架
? Financial functions targeted by open APIs
開放API所針對(duì)的金融功能
（被動(dòng)語態(tài)，翻譯時(shí)可以使用主動(dòng)語序進(jìn)行替換，這樣句子更加順暢）
? Leading players and their initiatives
（開放銀行）先驅(qū)們以及他們的嘗試
（直譯：頭部玩家）
? Collaboration strategies
協(xié)作策略
? Risks and challenges
風(fēng)險(xiǎn)與挑戰(zhàn)
? Defining the path to success
定義成功路徑

Open Banking kick starts the creation of highly innovative, digital financial services through open technology standards, or APIs. These enable commercial banks to share account information and support payments with all types of enterprises.
開放銀行啟動(dòng)高度革新的創(chuàng)造，即數(shù)字金融服務(wù)通過開放技術(shù)標(biāo)準(zhǔn)——API，使商業(yè)銀行能夠分享賬戶信息、支持與企業(yè)的各類支付。

（kick start指的是摩托車發(fā)動(dòng)時(shí)用腳踢踏板的動(dòng)作，這里是形象的比喻，所以翻譯作“啟動(dòng)”比開始更貼切。英語不像中文，一句結(jié)束就是一句意思的終結(jié)，英語的上下文是有聯(lián)系的，上一句話可以作為下一句的開始，所以翻譯時(shí)不必遵循英語中的句號(hào)來斷開意思。These指的就是上一句中的open technology standards, or APIs）

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Driven initially by regulations in Europe and the UK, variations on Open Banking are gaining foothold in the US, Asia/Pacific, and beyond. In the future, the ‘open’ philosophy will impact lending, wealth management, and invoicing as well.

開放銀行活動(dòng)最初由歐洲和英國的監(jiān)管部門發(fā)起，并在美國、亞太以及其他地區(qū)演變，最終站穩(wěn)腳跟。在未來，“開放”哲學(xué)將影響信貸、財(cái)富管理、結(jié)算。

（注：英國政府的競爭和市場委員會(huì)CMA (Competition and Markets Authority類似中國的發(fā)改委) 2016開始主導(dǎo)Open Banking計(jì)劃，經(jīng)過近兩年準(zhǔn)備，2018年開始在英國大銀行逐步實(shí)現(xiàn)。歐盟2016年通過PSD2(Payment Service Directive 2 支付服務(wù)規(guī)劃2)法令，規(guī)定在2018年1月13日起歐洲銀行必須把支付服務(wù)和相關(guān)客戶數(shù)據(jù)開放給第三方服務(wù)商。）

LendIt Fintech conducted this study to provide an update on how far the Open Banking trend has progressed and how great an impact it will have on the financial competitive landscape.
朗迪金融科技進(jìn)行的這項(xiàng)研究，將提供對(duì)“開放銀行業(yè)務(wù)進(jìn)展怎樣，將對(duì)金融競爭格局產(chǎn)生多大的影響”的最新報(bào)告。

（句子復(fù)原it will have an great impact on the financial competitive landscape. it 做虛擬主語代指開放銀行 how great will it have an impact on… 作為疑問句語法上是這樣，但這是驚嘆句，所以是文中的那樣變形。 ）

Through research into banks’ developer websites; the latest offerings from commercial banks, fintechs and internet brands; and industry interviews; LendIt affirms the likelihood that Open Banking will restructure the industry in terms of business models and services created through collaboration.

通過對(duì)銀行開發(fā)者網(wǎng)站的研究；商業(yè)銀行的最新產(chǎn)品、金融科技和互聯(lián)網(wǎng)品牌；機(jī)構(gòu)觀點(diǎn)；朗迪表示開放銀行將重組行業(yè)的商業(yè)模式的可能性和通過協(xié)作創(chuàng)建服務(wù)的可能性。
（注：LendIt affirms the likelihood that Open Banking will restructure the industry in terms of business models and services created through collaboration.這是一個(gè)長句，分解后that后跟一個(gè)定語從句，從句分為兩個(gè)短語部分用and連接，Open Banking will restructure the industry in terms of business models 為一部分短語，services created through collaboration為另一部分短語，兩短語都修飾 likelihood這個(gè)詞。講的是這兩短語的likelihood（可能性）。created through 在這里是被動(dòng)語態(tài)不是過去式，這是過去分詞作被動(dòng)語態(tài)的獨(dú)立主格結(jié)構(gòu)）

A fundamental question addressed is: what steps must a company take to play a leading role and stay competitive?
一個(gè)被問到的基礎(chǔ)問題：公司必須采取哪些措施才能發(fā)揮主導(dǎo)作用和保持競爭力？

“Open Banking is driving a new dynamic whereby traditional banks are bifurcating into product providers or relationships owners.” - Max von Bismarck, Chief Business Officer at Deposit Solutions
開放銀行推動(dòng)一種新的形態(tài)，即傳統(tǒng)銀行將分成服務(wù)提供者或關(guān)系所有者。

Contents

1. Drivers and benefits of Open Banking initiatives
2. Regulatory frameworks around the globe
3. Financial functions targeted by open APIs
4. Leading Open Banking players and their initiatives
5. Collaboration strategies
6. Risks and challenges
7. Defining the path to success
8. Appendix: Developer portals and API support by bank
   8 附錄：銀行的開發(fā)人員門戶和API支持

Research sources
研究來源

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1. DRIVERS AND BENEFITS OF OPEN BANKING INITIATIVES

Open Banking is a recent phenomenon, arising from European and UK directives in 2015 and 2016 to create a more integrated, innovative, and competitive banking and payments system. It has gained a foothold in the US, Asia/ Pacific, and elsewhere as well.

開放銀行是最近出現(xiàn)的一種熱門現(xiàn)象，源于歐洲和英國在2015和2016年頒布的指令，旨在創(chuàng)建一個(gè)更加一體化、創(chuàng)新和更具競爭力的銀行與支付體系，并已在美國、亞太以及其他地區(qū)站穩(wěn)腳跟。

（注意：phenomenon 這個(gè)詞在英語中很有意思，在這里使用即指開放銀行這個(gè)活動(dòng)非常成功。雖然，在劍橋字典中phenomenon有好幾個(gè)解釋，但從例句可以看出，文章中的phenomenon是“成功”的意思。我翻譯為“熱門”比較通順。不得不說，英語是個(gè)很有意思的語言，可能會(huì)有好幾個(gè)詞翻譯為中文是同一個(gè)意思，但各自有表達(dá)上的差別，所隱含的意思，在翻譯過程中可能會(huì)流失）

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Open Banking is an initiative that instructs banks to share access to account information and payment mechanisms with third-party providers (TPPs). These TPPs – who often are fintech startups, but also may be consumer- facing digital brands or financial transaction processors – access these systems through open technical standards (application programming interfaces, or APIs). They then incorporate this access into compelling financial applications. Examples of such services include voice and chat-controlled account queries; personal financial dashboard apps; budgetary analysis and semi-automated debt reduction counseling; instantaneous product financing, and product insurance offers; and comparison marketplaces for depository products.

開放銀行是一項(xiàng)指導(dǎo)銀行與第三方機(jī)構(gòu)共享帳戶信息和支付渠道的舉措。這些第三方機(jī)構(gòu)通常是金融科技創(chuàng)業(yè)公司，但也可能是面向消費(fèi)者的數(shù)字品牌產(chǎn)品或金融交易處理者，通過開放技術(shù)標(biāo)準(zhǔn)（應(yīng)用程序接口API）接入他們的系統(tǒng)。然后，他們將訪問權(quán)限納入引人注目的金融應(yīng)用中。此類服務(wù)的例子包括使用語音和聊天互動(dòng)進(jìn)行帳戶查詢；個(gè)人財(cái)富儀表盤應(yīng)用（理財(cái)app）；預(yù)算分析和半自動(dòng)減債咨詢；即時(shí)產(chǎn)品融資和產(chǎn)品保險(xiǎn)報(bào)價(jià)；還有存款產(chǎn)品的比較市場。

（注：These TPPs – ，– access these systems ，TPPs 和 systems 兩個(gè)詞都用these修飾，首尾呼應(yīng)。chat-controlled 原指聊天室的觀眾控制直播里的活動(dòng)，這里指聊天互動(dòng)查詢。）

While some of these services have been available earlier with limited scope, Open Banking’s industry-wide access democratizes the playing field and ignites innovation. Traditional banks now will not only be competing against other banks, but a range of enterprises offering financial services.

雖然在早期其中一些服務(wù)能在有限范圍內(nèi)使用，但開放銀行的全行業(yè)接入使競爭環(huán)境民主化并點(diǎn)燃創(chuàng)新。傳統(tǒng)銀行現(xiàn)在不僅要與同行競爭，還要與一系列提供金融服務(wù)的企業(yè)競爭。

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Key drivers of Open Banking
開放銀行的關(guān)鍵驅(qū)動(dòng)力

Regulations
監(jiān)管
A crucial motivation for governments worldwide has been the transformation of the financial services market into a more competitive and innovative one. Federal and regional agencies are drafting regulations to facilitate a more open environment that is receptive to technology players and disruptive ideas, which in turn will empower consumers. Section 2 in this paper addresses relevant regulatory frameworks.
對(duì)于全球政府來說一個(gè)關(guān)鍵性的動(dòng)機(jī)是，將金融服務(wù)市場變得更具競爭力和創(chuàng)新性。聯(lián)邦及地區(qū)機(jī)構(gòu)正在起草法規(guī)，以促進(jìn)更加開放的環(huán)境，即接收技術(shù)型參與者及其破舊立新的想法，這反過來又將賦予消費(fèi)者更多選擇的權(quán)力。
本報(bào)告第2節(jié)討論了相關(guān)的監(jiān)管框架。
（注：has been ?名詞，現(xiàn)在完成時(shí)，表示這個(gè)動(dòng)機(jī)從過去就有，也就是說，“將金融服務(wù)市場變得更具競爭力和創(chuàng)新性”不單單是現(xiàn)在開放銀行的動(dòng)機(jī)，也是自古就有的動(dòng)機(jī)，開放銀行正好可以實(shí)現(xiàn)此動(dòng)機(jī)。disruptive這個(gè)詞有破舊立新的意思。empower consumers 指賦予消費(fèi)者某種權(quán)力，這里聯(lián)系上下文指的是賦予更多選擇的權(quán)力）

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注：何為PISP？之前的文章里有提到TPPs，看下面的介紹：
The introduction and regulation of third party payment service providers (TPPs) – as described above there are 2 types, those that offer:

• Payment Initiation Services Providers – PISP
• Account Information Service Providers – AISP
  PISP就是因?yàn)镻SD2法令，使得原本的TPPs分成PISP與AISP，因?yàn)楦鶕?jù)PSD2的要求，客戶可以在一個(gè)整合的地方訪問自己在各家銀行的賬戶，這就是AISP提供的服務(wù)，而PISP提供的是支付交易的發(fā)起服務(wù)。

PSD2法令針對(duì)的適用范圍：Payment Institution（支付機(jī)構(gòu)）TPPs（支付服務(wù)提供商），Bank（銀行）
而不少金融科技公司，又在PISP和TSP之間被劃分
payment initiation service provider (PISP) （支付啟動(dòng)服務(wù)提供商），Technical Service Provider（TSP）（技術(shù)服務(wù)提供商）

下表是對(duì)技術(shù)服務(wù)提供商與支付啟動(dòng)服務(wù)提供商的對(duì)比。

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Technology
技術(shù)
APIs have evolved from being optional infrastructure to must-have tools as they allow banks to develop capabilities to succeed in a competitive ecosystem. Instead of reinforcing innovation from the ground- up, APIs afford the potential for rapid product development through the aggregation of existing software functionality. Layer on top of APIs parallel trends in human-language interfaces, big data, and machine learning, and one has the makings of dramatic improvements in customer-centric financial services in the coming years.

API已從可選基礎(chǔ)設(shè)施發(fā)展為必備工具，作為給予銀行在競爭生態(tài)中成功發(fā)展的能力。API不是強(qiáng)調(diào)從頭開始創(chuàng)新，而是通過聚合現(xiàn)有軟件功能以提供快速產(chǎn)品開發(fā)的潛能。未來幾年，在API上層的人機(jī)接口、大數(shù)據(jù)、機(jī)器學(xué)習(xí)以并發(fā)勢態(tài)助力以客戶為中心的金融服務(wù)取得顯著進(jìn)步。
（注： one has the makings of sth，具備某種事情需要的品質(zhì)／能力，這里指“Layer on top of APIs parallel trends in human-language interfaces, big data, and machine learning”能為“dramatic improvements in customer-centric financial services”提供需要的能力。所以，翻譯為“助力”比較合適。這句話比較難翻譯，太過于“意向化”了，跟中文的習(xí)慣思維完全不一樣，意思好理解，組織翻譯語句比較難）

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Competition & collaboration
競爭與合作

Banks have suffered a decline in average return on equity beginning with the 2008 crisis.
從2008年金融危機(jī)之后，銀行的平均股本回報(bào)率遭遇下降。

Apart from battling with traditional competitors, banks are facing the rise of fintechs.
除了與傳統(tǒng)競爭對(duì)手抗行以外，銀行還面臨著金融科技公司的崛起。

Global investment in fintech has hit a record high of USD 58 Bn across 875 deals in first half of 2018, already exceeding the investment for all of 2017.
金融科技的全球投資在2018年上半年的875筆交易中創(chuàng)下了580億美元的歷史新高，已超過2017年全年的投資額。
（注：hit a record = record-breaking 打破紀(jì)錄）

Fintechs have managed to limit the purview of regulators to a degree through non-banking business models, threatening banks with competitor hyper-growth while limiting compliance costs.
金融科技公司因其非銀行業(yè)務(wù)模式在一定程度上限制了監(jiān)管機(jī)構(gòu)的職權(quán)范圍（監(jiān)管盲點(diǎn)），在限制合規(guī)成本的同時(shí)，以高增長競爭者（野蠻生長的野蠻人）的姿態(tài)威脅銀行。
（注：句頭的limit與句尾的limiting相呼應(yīng)，所以逗號(hào)前半句的意思很難理解，為了刻意使用limit。threatening banks with competitor hyper-growth，threaten sb with sth，以何物威脅某人）

They say: if you can’t beat them, join them.
古人說：如果你不能打倒他們，那就加入他們。

Open Banking thus encourages banks to collaborate with fintechs and harness their best attributes. These include out-of-the-box ideas, customer- centrism and time to market.
開放銀行活動(dòng)鼓勵(lì)銀行與金融科技公司合作，利用他們的優(yōu)點(diǎn)，包括：開箱即用的創(chuàng)意、以客戶為中心、敏捷上市。
（注：out-of-the-box 拿到就能用。time to market 即TTM，abbreviation for time to market，指一個(gè)產(chǎn)品從構(gòu)思到上市的時(shí)間，也就是現(xiàn)在的“敏捷”模式。）

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According to PwC’s Global Fintech Report 2017, 82% of incumbents expect to increase fintech partnerships in the next three to five years.
根據(jù)普華永道2017年全球金融科技報(bào)告，在未來3到5年，82%的老牌金融機(jī)構(gòu)期望增加金融科技合作伙伴。

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Benefits by audience
受眾的益處
Not only will customers benefit greatly from new services being fashioned together using Open Banking, but commercial banks, fintech startups, and non- financial companies with broad consumer reach, all can find opportunities to update their strategies and achieve outsized returns.
客戶不僅可以在被開放銀行塑造的新業(yè)務(wù)中獲益匪淺，而且商業(yè)銀行，金融科技創(chuàng)業(yè)公司和具有覆蓋廣泛消費(fèi)者的非金融公司都可以獲得更新戰(zhàn)略并實(shí)現(xiàn)超額回報(bào)的機(jī)會(huì)。
（注：fashion作動(dòng)詞不太常見，意思和make差不多）

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• Open Banking will give consumers much more freedom to compare and seamlessly switch financial service providers, while simultaneously holding their funds at a trusted, well-established bank. 開放銀行將給予消費(fèi)者更多的自由去比較和無縫切換金融服務(wù)提供商，與此同時(shí)將資金存放在一家值得信賴的知名銀行。

• Consumers will have a real-time view of all their finances on a single platform rather than juggling multiple accounts. This empowers them to make better decisions when dealing with financial products, investments, and expenditures. 消費(fèi)者可以在一個(gè)平臺(tái)上實(shí)時(shí)查看所有財(cái)務(wù)狀況，而不是來回處理多個(gè)賬戶。這能方便的讓他們在交易金融產(chǎn)品、投資和支出時(shí)做出更好的決策。

• Individuals who may not qualify for traditional banking services or find them too costly, will realize financial inclusiveness benefits including: low-fee or no-fee accounts, alternative credit assessment methods, easy transfers to family and colleagues, account access anywhere via smartphone, and automated 24x7 support in the language of their choice. 不被傳統(tǒng)銀行服務(wù)或服務(wù)成本太高的客戶，將從實(shí)現(xiàn)金融包容性中獲益，包括：低手續(xù)費(fèi)或免費(fèi)帳戶，代替?zhèn)鹘y(tǒng)信用評(píng)估方法，輕松轉(zhuǎn)賬給家人和同事，通過智能手機(jī)在任何地方訪問帳戶，以及自動(dòng) 7x24 小時(shí) 全天候支持客戶選擇的語言。
  （注：歐洲國家很多，語系分支也多，多語言支持就是幾十種語言，確實(shí)有難度，不像國內(nèi)的多語言就是中、英、日、韓等幾種）

• As Open Banking expands, it will also improve the efficiencies of business banking in areas such as accounts-receivable processing. 隨著開放銀行業(yè)務(wù)的擴(kuò)展，它還將提高應(yīng)收賬款處理等領(lǐng)域的商業(yè)銀行效率.

If you’re a consumer unhappy with your bank’s service, you can now switch in an instant to a new financial services provider... on an app, without having to transfer your actual bank account.

• Jamie Campbell, Awareness Lead, Bud
  如果您是一個(gè)對(duì)銀行服務(wù)不滿意的客戶，您現(xiàn)在可以立即切換到新的金融服務(wù)提供商…在一個(gè)app上，且無需轉(zhuǎn)移您的實(shí)際銀行賬戶。

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• Banks have the opportunity to expand their offerings by opening up their core business functions to third- party integration via APIs. The most progressive of banks are building developer portals (websites) and sandboxes (platforms on which to experiment) to nurture innovation ecosystems.
  銀行有機(jī)會(huì)通過API向第三方集成商開放其核心業(yè)務(wù)功能來擴(kuò)展其產(chǎn)品服務(wù)。最先進(jìn)的銀行正在建立開發(fā)者門戶（網(wǎng)站）和沙箱（實(shí)驗(yàn)平臺(tái)），以培育創(chuàng)新生態(tài)系統(tǒng)。

• Enhanced service offerings that are customized to end-users’ needs will help banks drive customer satisfaction.
  根據(jù)最終用戶的需求定制更好的服務(wù)產(chǎn)品將幫助銀行提高客戶滿意度。（直譯：達(dá)到客戶滿意的預(yù)期）

（注：help 后賓語補(bǔ)足語不定式省略to，help banks to drive… drive是動(dòng)詞詞性的意思
Enhanced service offerings that are customized to end-users’ needs 這個(gè)超長短語作主語）

• Banks will be able to participate in larger profit pools by reaching out to the underserved population.
  銀行將能夠通過觸達(dá)服務(wù)欠缺的人群來參與更大的利潤池。

（注：利潤池（Profit pools）
The Profit pools is a strategy model that can be used to help managers or companies focus on profits, rather than on revenue growth. The method was conceived by Orit Gadiesh and James L. Gilbert, both consultants at Bain & Co. presented the following definitions: "the total profits earned at all points along the value chain of an industry. Companies that see what others do not see, will be best prepared for capturing a larger share of the profits in an industry."
1998年，貝恩咨詢公司的奧里特·加迪什(Orit Gadiesh)和詹姆斯·吉爾伯特(James L. Gilbert)在《哈佛商業(yè)評(píng)論》中首次提出行業(yè)利潤池的概念。利潤池（Profit pools）是指行業(yè)價(jià)值鏈各鏈結(jié)點(diǎn)所產(chǎn)生的利潤總和。運(yùn)用利潤池分析法的目的是研究行業(yè)總利潤在價(jià)值鏈各節(jié)點(diǎn)的分布情況，并為企業(yè)的戰(zhàn)略決策提供依據(jù)。企業(yè)不論處于行業(yè)價(jià)值鏈的某一鏈節(jié)，還是跨越若干鏈節(jié)，均應(yīng)從利潤池的分布情況出發(fā)，并結(jié)合自身在行業(yè)價(jià)值鏈中所處的位置及擁有的利潤池份額，研究行業(yè)價(jià)值鏈中其他有利可圖的價(jià)值活動(dòng)，尋找發(fā)展的機(jī)會(huì)，作出放棄或開發(fā)其他鏈節(jié)的決策。企業(yè)可以通過分析和預(yù)測行業(yè)利潤池的變遷，確定企業(yè)未來的發(fā)展戰(zhàn)略。）

• Launch of digital-only services will improve banks’ revenues and profitability.
  推出純數(shù)字服務(wù)將提高銀行的收入和盈利能力。

• Banks have a prominent “chair at the table” in terms of participation in regulatory conversations and technical consortia, where they can help define the priorities and details of Open Banking’s technical specifications.
  在參與監(jiān)管對(duì)話和技術(shù)聯(lián)盟方面，銀行有一個(gè)重要的“席位”，在那個(gè)位置上他們可以幫助定義開放銀行技術(shù)規(guī)范的優(yōu)先級(jí)和細(xì)節(jié)。

（注：“chair at the table” 席位，指的是銀行所處的談判位置高地）

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Benefits to fintechs
對(duì)金融科技公司的益處

• With the premise of Open Banking being the ability to seamlessly integrate multiple financial functions and data in a common user experience, fintechs have available numerous paths to innovation through the aggregation of services and data.
  開放式銀行能夠在一個(gè)共同的用戶體驗(yàn)中無縫集成多種財(cái)務(wù)功能和數(shù)據(jù)的前提下，金融科技公司通過服務(wù)和數(shù)據(jù)的聚合提供了許多創(chuàng)新途徑。

（注：of 后面開始的 Open Banking being…到experience都是修飾the premise，而With修飾逗號(hào)前的整個(gè)句子。這是一個(gè)倒裝的句子，將fintechs have 放在后半句，with引導(dǎo)的狀語放在句首）

• Fintechs will have easy outreach to banks’ customer base. Whereas in other fintech sub-sectors, it has been the startups that drove early customer adoption, with Open Banking it appears to be banks’ existing customer base – paired with compelling applications – that will create the critical mass of adoption.
  金融科技公司將輕松擴(kuò)展至銀行的客戶群。在開放銀行，似乎是銀行現(xiàn)有的客戶群 - 與吸引人眼球的應(yīng)用程序配對(duì) - 這將創(chuàng)造大量的使用（金融科技公司的產(chǎn)品），而在其他金融科技子行業(yè)中，盡快推動(dòng)客戶使用（金融科技公司產(chǎn)品）的是初創(chuàng)公司本身。

（注：這里也是倒裝的句子，Whereas被放在句首，it has been the startups that… it是虛擬主語，還原后的語序 drove early customer adoption has been the startups。第二個(gè) it指代Open Banking，to be bank‘s… paired with 也是倒裝，還原后是 to be paired with。這個(gè)報(bào)告的作者花式玩弄語法，逼格略高，但對(duì)讀者來說，就是受虐，估計(jì)以英語為母語的人看得都費(fèi)力）

• Access to vast transactional data held by banks, combined with big data and artificial intelligence techniques, allow fintechs to construct a business strategy around leading-edge analytics and personalization.
  通過訪問銀行持有的大量交易數(shù)據(jù)，結(jié)合大數(shù)據(jù)和人工智能技術(shù)，允許金融科技公司圍繞領(lǐng)先的分析和個(gè)性化去構(gòu)建業(yè)務(wù)戰(zhàn)略。

（注：三個(gè)短語組成的句子）

• Fintechs can build virtual services in which they act as the front-end, but refrain from actually holding deposits or offering financial advice. This allows them potentially to circumvent complex and expensive banking compliance requirements. However, there still may be other Open Banking licensing requirements for new enterprises: the UK is registering companies as authorized account information service providers (AISPs) or payment initiation service providers (PISPs). Fintechs may have choices to make as to the regulatory principles under which they will operate.
  金融科技公司可以作為前端建立虛擬服務(wù)，但不實(shí)際持有存款或提供財(cái)務(wù)建議。這使他們有可能規(guī)避復(fù)雜和昂貴的銀行合規(guī)性要求。但是，新企業(yè)可能還有其他開放銀行許可要求：英國正在將注冊公司分為授權(quán)帳戶信息服務(wù)提供商（AISP）或支付啟動(dòng)服務(wù)提供商（PISP）。金融科技公司可能會(huì)選擇在監(jiān)管原則之下操作運(yùn)營。

（注： make as to the regulatory principles under which they will operate 直譯：監(jiān)管原則在他們操作運(yùn)營之上）

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• Involvement with financial transactions and related data is lucrative opportunity, even if one is not a financial company. That’s why digital consumer giants including Google and Facebook are promoting their own payment services. Open Banking benefits these companies by providing a standard interface with which to access consumers’ funds and financial data, instead of building interfaces ad hoc. In the UK, which mandates that banks provide account access APIs to all qualified third-parties, a company like Facebook no longer must negotiate access terms for its Messenger Payments service, with what might be a banking competitor.
  即使不是金融公司，參與金融交易和相關(guān)數(shù)據(jù)也是一個(gè)有利可圖的機(jī)會(huì)。這就是包括Google和Facebook在內(nèi)的數(shù)字消費(fèi)巨頭正在推廣他們自己的支付服務(wù)的原因。開放銀行通過提供一個(gè)標(biāo)準(zhǔn)接口來訪問消費(fèi)者的資金和財(cái)務(wù)數(shù)據(jù)，而不是專門構(gòu)建接口，使這些公司受益。在英國，要求銀行向所有合格的第三方提供帳戶訪問API，像Facebook這樣的公司不再需要為其Messenger Payments服務(wù)協(xié)商訪問條款，這可能使其成為銀行的競爭對(duì)手。

（注： ad hoc 拉丁語 特殊、特意設(shè)置的意思）

• Meanwhile, professional services firms are filling a knowledge gap by sharing leading-edge practices in compliance, data security, forensics, and governance. PwC, for example, has its Financial Crimes unit working with banks on fraud and anti-money laundering, as well as security concerns, related to Open Banking.
  與此同時(shí)，專業(yè)服務(wù)公司通過分享合規(guī)性，數(shù)據(jù)安全性，取證和治理方面的前沿實(shí)踐來填補(bǔ)知識(shí)空白。例如，普華永道的金融犯罪部門與銀行合作開展欺詐和反洗錢以及與開放銀行業(yè)務(wù)相關(guān)的安全問題。