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What’s next in Open Banking?

March 07, 2018

Where will the true innovation and disruption actually happen following the introduction of PSD2 and Open Banking? Our analysts have shared their thoughts on where the market is headed in Part 3 of the recording of our latest webinar. Followed by a Q&A session, we explore how providers can make a success of the new regulatory environment.

‘What I want to see in 2018, is a lot stronger communications about the benefits and the use cases. Simple, clear use cases that are positive, that aren’t full of detail and that aren’t full of jargon,’ says Suraya Randawa, our Head of Research.

‘So, I do like that Emma has gone out there to say, “we can save you up to £600 a year” or for First Direct to say “we love open banking, it puts you in control.” It sends a very clear message as to why this is great.’

First Direct and Emma messaging around Open Banking

In this 20 minute recording, our analysts discuss payments, and the part that loyalty and reward programs will play in its development,  aggregation of customers’ financial and lifestyle apps, the global potential of Open Banking,  ‘self-driving bank accounts’ (quote from our Spotlight feature with Jamie Campbell at Bud) and much more.

In our Q&A session, we answer questions such as:

  • Are tech companies the biggest threat to banks?
  • Can Open Banking help deliver better onboarding journeys?
  • Are aggregation apps better as stand-alone or integrated into the main banking app?

Get great insight into where the opportunities are for providers to standout in the market. See real examples from incumbents, challengers and FinTechs in the market.

You can also watch Part 1, ‘What’s happened since PSD2 came into effect?‘,  and Part 2, ‘Building blocks for a great Open Banking platform’. If you would like to know more about our research on Account Aggregation, download a free sample from our Monitor or contact us today