While the Open Banking race has been underway for over two years, little has changed for UK banking customers. Products, services and experiences remain similar for most. Only a small number of organisations have genuinely faced up to the opportunities that Open Banking provides by exploring new business models and challenging existing views on their products and services.
While Open Banking is starting to be leveraged by financial players around the world, Big Tech firms are also tapping into its power.
Firms need to address a number of important areas to be confident of success.
By supporting incumbents, neobanks and challengers with their most important open banking delivery, Axis Corporate have identified 10 “tune-ups” that all can consider – when at their next pit stop, stand up or board meeting.