With a number of smaller financial institutions juggling a wide range of competing priorities, PIF, Open Banking Excellence and Ozone API are conducting a survey amongst smaller banks and FIs to get a state-of-the-nation view on open banking readiness.
Whilst the survey is still open and further responses are encouraged, the interim results make for very interesting reading.
The stand-out conclusion so far is how positively open banking is seen by the respondents. When asked “How do you view open banking?” not a single respondent viewed it as a “compliance headache” with the majority seeing it as a great platform to grow their business.
More survey results will help us to build the understanding of the challenges faced in delivering open APIs and creating the platform for growth.
So if you have not participated yet, please take a moment to do so here