A NatWest-commissioned report has called into question the UK’s approach to open banking amid concern that the industry is failing to make the most of the technology. The report, published July 4, argues that while there has been some success in allowing third-party access to consumer banking data via open banking frameworks, there is still great potential.
Overcoming the UK’s open banking malaise, says the report, would enable an industry environment in which the potential for more innovative use cases, better use of data, and improved consumer outcomes could be realised.
