As the end of the year and your 2020 planning quickly approaches many of us are relying on our crystal balls, tarot cards or personal Magic 8 balls, to try to understand where banking is going not just in 2020 but much further beyond.

Ok, maybe you should throw that Magic 8 ball out and take a look at what’s going on in the UK and Europe instead. As we have learned in the past, the waves generated there almost always hit the US shoreline with some noticeable impact.

Enter open banking. Open banking is set to disrupt and reshape financial services. Its broader implications will impact multiple industries, driving growth and innovation for both business and consumers.

Openbanking

Potential benefits:

  • Improved customer experience
  • New forms of revenue
  • Sustainable model
  • Speed

The benefits are there, but is the majority of the industry ready to take the jump? In a time when you can’t pick up a publication or speak to a bank executive with the focus not coming down to “providing a better customer experience”, how long do banks have to sit and think before becoming disintermediated?

Learn more as Chris Smith, Founder Open Ventures, walks through how Open Banking has already evolved in the UK and Europe and the impact they’ve seen so far.

Open Banking is Here, are you Ready_ How Open Banking is impacting the future of banking

 

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