The application of open banking is growing with over 2.5 million UK consumers and businesses using open banking-enabled products at the start of 2021, according to openbanking.org.uk.
Last week, Fintech North brought together Open Banking experts, northern FinTechs and the FinTech North community to explore ways in which Open Banking is changing the way we manage money.
Matt Hanna, Head of Business Transformation at Newcastle Strategic Solutions, joined the line up to share his perspective on the impact for savers. He, along with other consumer and business speakers, FinTech innovators and regulatory experts looked ahead to the future of Open Banking and the advent of Open Finance.
Whilst no one is entirely sure what it will mean for services around Savings, as the leading provider of savings management, Newcastle Strategic Solutions is preparing by making sure we have the technical capability to enable our partners to take part. As consumers become more aware of what open banking has to offer, providers will launch more features to enrich customer experience. We have already taken first steps with development of our Mobile App, which has been developed using open API technology and we are now moving on to other use cases such as Request to Pay
You can stream a recording of the event here.
