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The Open Banking Initiative: The New Opportunity?

A Survey of 2000 UK Banking customers reveals that over 85% of UK Banking customers have either never heard of or are unsure of what the Open banking Initiative is. How can banks gain a competitive advantage?

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Time for the banks to focus on educating their customers on the benefits of Open Banking

The results of the survey show a significant gap in the knowledge banking customers should have around Open Banking and the reality of what they know today. With 86% of banking customers not aware of what Open Banking is, or how it will affect them, banking customers in the UK have been left in the dark with information they need in order to support them in making informed decisions in  their financial lives. CREALOGIX see the benefits in this for the banks - embracing Open Banking now, will help retain customers in the long run.

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