Technology continues to revolutionise the way we interact with our finances. The most recent example of this is the implementation of open banking.
As the biggest shake-up of the financial services sector in recent history, the changes put consumers back in control of their data and reset how consumers and businesses engage with their finances. The new legislation “opens up” the sector for third parties to transform the way they connect with larger financial service providers. But while there are significant benefits to be made, we’re over three months in and we’re still not yet seeing businesses take up the full potential of open banking.