The OBIE is pleased to announce the launch of a report it has commissioned from Fingleton and the ODI which examines the purpose, progress and potential of Open Banking. “Open Banking: Preparing for Lift Off” reviews the progress already made, the potential for Open Banking to become a cornerstone of the digital economy and makes some detailed recommendations on how Open Banking could be further strengthened.
The report acknowledges the firm foundations upon which Open Banking has been built. It singles out the UK’s global leadership position, noting that the Standards have been adopted as a blueprint around the world. The report further acknowledges that Open Banking has already kick-started an ecosystem of digital innovation even though the banks have not yet completed implementation. The potential and opportunity for Open Banking to deliver a range of use cases to the benefit of consumers and small businesses are highlighted in the report.
Read the report from OpenBanking.org.uk here: https://www.openbanking.org.uk/wp-content/uploads/open-banking-report-150719.pdf