Open Banking Lessons From the UK

Because the United States has been slower than other countries to establish clear regulations around open banking, financial institutions are in a position to learn from innovators, avoid making the same mistakes, and streamline getting new services to market. 

In contrast, the United Kingdom has been at the forefront of regulations in open banking. Seven years after implementing its regulations, the country offers a reference and a blueprint for U.S. banks, fintechs, and digital banking platform vendors seeking to provide new and improved services. This Digital Strategy & Experience report spotlights three ways UK players are using open banking to blaze trails in money movement, financial fitness, and lending.