60% of UK consumers have heard of open banking, according to a study by RFi Group. Furthermore, less than a quarter of consumers believe they have a good level of understanding of open banking rules. The study, which surveyed 2,000 individuals and 200 small and medium-sized businesses, did find some customers are open to sharing their data. One in six people say they are happy to share data in order to access improved services, while Only 16% of respondents would be open to hearing more about the benefits.
Only 16% of UK consumers have heard of open banking, according to a study by RFi Group. Furthermore, less than a quarter of consumers believe they have a good level of understanding of open banking rules. The study, which surveyed 2,000 individuals and 200 small and medium-sized businesses, did find some customers are open to sharing their data. One in six people say they are happy to share data in order to access improved services, while 60% of respondents would be open to hearing more about the benefits.