January 31, 2018
"Open Banking is never out of the headlines at the moment, heralded as “transformative”, a banking “revolution” and “the next logical evolution”. And you can see why.
Open Banking could make it quicker and easier to switch current accounts or make mortgage applications and, more excitingly, could lead to a host of new FinTech products that could aggregate your accounts, manage your spending and offer personalised investment opportunities. Sounds good right?
While Open Banking offers a step change, with thousands of possibilities yet to be realised, there’s one, large challenge brands need to overcome. Namely that consumers are currently unwilling or uncomfortable sharing financial information with banks, let alone third party providers."
Read on here.