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Consumer Priorities for Open Banking

July 18, 2019 | Open Banking
Consumer Priorities for Open Banking

Open Banking has been hailed a revolution in financial services. The UK is a trend setter globally, combining the legal framework of the EU Second Payment Services Directive (PSD2) with the regulatory mandate of the UK Competition and Markets Authority Order (CMA Order). It should change financial services for the better and create more tailored, personalised, suitable products for people and small businesses alike. 

This report from the Independent Consumer and Small Business Representatives for the Open Banking Implementation Entity (OBIE) provides an overview of what consumers need from the market, what the market needs from Open Banking and what Open Banking needs next. 

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