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Executives more open towards Open Banking than ever before, tink study shows

Wednesday 22 September 2021 11:52 CET | News

Sweden-based financial services company Tink has released a study surveying senior financial executives in Europe on Open Banking.

Since 2020, positive attitudes toward Open Banking have risen 10 percentage points and have grown from 55% in 2019 to 71% in 2021. Belgium (87.0%), the Netherlands (85.0%), and the UK (81.3%) rank the highest in seeing Open Banking as a positive development, while Portugal (59.1%), Sweden (57.9%), and Denmark (50.0%) ranked lowest.

According to the study, since the outlook towards open banking has improved, the number of trans-pacific partnerships has also grown exponentially. As of June 2021, the UK and European Economic Area (EEA) had registered and authorised 497 TPPs, representing a 53.4% increase year-over-year. At least one-fourth of executives rated open banking as ‘extremely important’ in realising business objectives. The objectives that came out on top were: improving customer experience (35.7%), launching new digital services (35.1%) and increasing revenue (34.4%).


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Keywords: study, report, Open Banking, survey
Categories: Banking & Fintech
Companies:
Countries: Europe
This article is part of category

Banking & Fintech