A year on though, momentum looks to be picking up, as more and more firms eye its time and money saving potential.
A year into open banking and after a slow start for the initiative, corporates look to be slowly coming around to its potential, with a survey finding that three-quarters of UK businesses expect to benefit from the initiative by 2020.
The study, carried out by Centtrip, the international payments, treasury management and foreign-exchange specialist, also found that nine in ten senior decision makers in medium or large companies have now heard of open banking. Of these, two fifths (38%) say they are already benefitting from the initiative. Nearly 60% have yet to tap into its potential.
Read the article in full: TreasuryToday