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[TreasuryToday]

Growing numbers of corporates eyeing benefits of open banking

Open banking began life in 2018 stuck in the slow lane, with awareness of its benefits muted among corporates.

Growing numbers of corporates eyeing benefits of open banking

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

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