Article: How Open Banking will transform the letting industry

Money, Open Governance

How Open Banking will transform the letting industry

Banking has gone through radical changes in the past few years, in step with technology and the sheer amount we can now do online. This revolution in how we bank or pay for goods isn’t just for the retail sector, it’s also having a positive knock-on effect for the lettings industry. Just as online-only challenger banks disrupted the inconvenient process of visiting physical branches, Open Banking is making the process of tenant reference checks and payments quicker and smoother than ever.

We are always seeking tools that make our customer’s lives easier, so LRG has recently embraced Open Banking technology. Following our adoption of the technology, we’ve found a big impact and opportunities for the future of our lettings business, and the wider industry.

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