With the accelerated adoption of digital tech, forward-thinking businesses are transforming the way they offer products and services, especially when it comes to banking. With customers becoming more remote and digital, the financial services industry is rapidly embracing Open Banking.
What is Open Banking?
Open Banking is a data-driven business model that allows customer lifestyles and experiences to drive the creation of new and innovated offerings. As opposed to a "one size fits all" model, when customers opt-in to allow financial services and fintech (financial technology) vendors to access and use their personal data, they in turn receive customized services and a more personalized experience.
This infographic highlights the top eight takeaways from the Open Banking research study conducted with over 280 banking and technology decision makers and influencers. Learn more today by downloading this infographic from Teradata and Futurum.