Open Banking Business Research

As part of its retail banking market investigation, the Competition and Markets Authority (CMA) concluded that older and larger banks do not have to compete hard enough for the banking business of personal and small business customers.
To tackle this, the CMA is implementing a broad package of reforms, one of which is the introduction of Open Banking. The aim of Open Banking is to enable personal and small business customers to share their data securely with other banks and third parties, allowing them to compare banking products on the basis of their own requirements and to manage their accounts without having to use their bank.
To gauge sentiment among GB businesses, Charterhouse Research conducted telephone interviews with 3,514 businesses from 3 April to 20 June 2017 to understand how appealing they found 4 potential aspects of Open Banking.
To download a summary of the results, please click the Download button to view a PDF document.