The article seems to be quite US centric when talking about regulation. The UK banking market is very different than the US with just a handful of banks. The regulator is actively trying to increase competition. Atom, a new challenger bank just got their banking license and Mondo (where I work) is on its way.

We are looking to differentiate ourselves by simply not sucking, providing features people want when they want them not two years later. Water bill doubled this month, we'll flag it. Salary not come in when it should have, we will send you a notification.

Api? Yup