Current Accounts - UK - July 2018
"The Open Banking initiative, which launched in January 2018, has the potential to massively increase competition in the market. To realise this, however, providers and regulators need to convince consumers of the benefits of opting-in, while product innovation needs to be developed with customer needs in mind."
- Douglas Kitchen, Financial Services Analyst
This Report looks at the following areas:
Mobile banking set to grow and grow, but may not benefit new challengers
Open Banking can drive reduction in overdraft fees
Developments required for chatbots to be a success