Open banking around the world: spotlight on the UK

09/08/2022

spotlight in uk

Did you know that there are now 339 regulated open banking providers in the UK? 

And 247 of these are third-party providers (TPPs).

Open banking allows companies like yours to access, share, and use the financial data of a business or consumer’s bank account, enabling you to automate tasks and reduce manual work. By consenting to their data being used, users can benefit from better products and services tailored to their specific needs, as well as faster, more efficient payment methods and onboarding. 

These benefits have seen widespread uptake of open banking across the world since its introduction in 2018, but each country has its own way of regulating, implementing, and promoting it. Read more on what's happening in the UK by downloading our two-pager below.