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Main perceived benefits and use cases of open banking in the United Kingdom (UK) in 2023

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Sources

Release date

March 2023

Region

United Kingdom

Survey time period

2023

Special properties

consumers

Supplementary notes

The source does not provide any details about the methodology of the survey.

Citation formats

Benefits and use cases of open banking in the UK 2023

Published by ÌÇÐÄÆƽâ°æ Research Department, Jun 8, 2023

According to a survey of a representative sample of UK consumers in 2023, the main perceived benefit of open banking was its perk of speeding up financial transactions and services, with ** percent of the respondents agreeing with this statement. Ease of use was the second most significant benefit. In terms of use cases, payments to a party were by far the most widely used application of open banking, with ** percent of the respondents making use of this function of open banking.

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