Trend Report

The UK Is The World’s Most Mature Open Banking Environment, But Mass Consumer Adoption Is Still A Long Way Off

Jacob Morgan

Mar 27, 2020

Summary

The UK’s open banking goes beyond PSD2, mandating a common response that is delivered by mature standards with API specifications. UK open banking is sparking innovation but not customer interest. Few UK banks place open banking at the heart of their business strategy, suggesting there is a lot more value left to claim. UK banks must deploy open banking to save customers effort, not just provide them with an account dashboard.

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