Despite the fact a recent study suggests only 22% of those in the UK had even heard of “open banking” as a concept, almost a year after PSD2’s new regulations have taken effect, and only 9% of adults in the UK have touched a piece of technology that has been enabled by open banking, there are still those that suggest that open banking is the future. Greg Palmer, Finovate VP, is one such person and he further suggests open banking is good for consumers, good for innovators, and appealing to regulators. That’s a combination that can’t be resisted. Source.
