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[Tomorrow's Business]

Open Banking… When will it pay off UK businesses?

Centtrip's survey showed 64 per cent of businesses think Open Banking will save them time and nearly 60 per cent say it will save them money.

Open Banking... When will it pay off UK businesses?

Introduced in January 2018, Open Banking was designed to give customers and companies control of their financial data, enabling them to view it in one place. It was also intended to provide a secure way of sharing that information with third parties and give access to better deals and a wide array of financial products and services.

Now, almost a year on, Centtrip has analysed its, so far slow, uptake by medium-size and large firms. The fintech’s study showed that 64 per cent of businesses agreed that Open Banking will save them time and 58 per cent believed it would also save them money.

Read the article in full: Tomorrow’s Business

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