In the 5 short years since the CMA initiated Open Banking in the UK, over 6 million people have made use of available services - so while it is still in its infancy, the drive behind open banking is clear and is already beginning to progress into the wider scope of open finance.
In this fast evolving landscape customers will benefit from sharing their data across multiple sectors, from utilities to property and healthcare.
This next step to open ‘X’ will shape the open future. In another 5 years, personal data mobility will be visible across verticals, so businesses need to strategise now to be ahead of the curve.
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