Article: Now is the time to realize the potential of open banking

Money, Open Governance

Now is the time to realize the potential of open banking

We should roll out open banking to open everything, setting the new global standards for simple, safe data sharing in future and establishing a strong digital image of a new post-Brexit global Britain. When was the last time you switched to a different bank? This week? This decade? Ever?

For most of us, no matter how much we may grumble about unexpected account fees or lousy foreign currency rates, the answer is ‘never’. And that’s not so bad if we’re broadly happy with what we’re getting. For lots of us, life is too short to spend time worrying about a service that’s fairly trouble free, and which lets you manage your finances from your phone wherever you are.

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