Open banking has arrived, and it’s transforming the UK’s banking landscape – next up could be the world. Regulatory efforts in the UK are transforming retail banking, reshaping incumbents’ relationships with customers, and easing entry for fintechs. Regulators across every continent are responding with actions of their own. Underpinning open banking initiatives is the idea […]
Open Banking is a big deal, with wide implications – yet it still feels like the best-kept secret within financial services. It’s not about branches opening longer – it’s about an imminent, seismic shift in the world of banking, which rebalances the relationship between businesses, banks and customers with the recognition that data has value.
Quick summary of Open Banking and the four main elements for organizational success.
The customer journey is a key part of a good open banking solution. Here is a sample approach by Equifax.