May 17, 2023

Finance Magnates

Open Banking: The UK Shows Promise, but Struggle Remains

The UK will have the largest number of open banking users in 2027, while Sweden will have the highest penetration rate.

The UK now needs to work towards the next seven million users and the continued growth after that to achieve these aggressive targets. However, we are in a bit of a holding pattern as we digest the newest announcement from the Joint Regulatory Oversight Committee on April 17.

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