Understanding the 3 customer mindsets of Open Banking

Reports as recent as yesterday have already announced that the introduction of Open Banking is already changing the UK financial market, introducing new players and unsettling established ones.

However, other interpretations are more cautious; Raconteur reported that UK consumers are yet to buy into the concept, worried about the misuse of their data (understandably, given the current climate) and that only four of the nine banks that the Competition and Markets Authority (CMA) mandated to participate in the ruling were ready for the 13 Jan deadline.

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