Consumers and Data Sharing in Financial Services - UK - February 2018
“Open Banking has often been described as ‘bad news’ for the UK’s big banks. However, consumers are far more likely to share financial data from other providers with their main bank than they are to give rival banks access to their information. This could give banks an opportunity to improve engagement with their existing customer bases, setting them further apart from the competition.”
- Paul Davies, Associate Director – Financial Services
This report will look at the following areas:
- The big banks still hold the advantage
- Security concerns are likely to hamper the success of Open Banking
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