Open Banking – what does it mean to Financial Services marketers? Creating value propositions in the new app economy
Author: CIM PR team
Open Banking has been described as the biggest change in UK banking for a generation. But with just a quarter of consumers believing that businesses treat their data in an honest and transparent way, lack of trust could undermine the potential benefits.
In the future your bank or building society, or more precisely the bank-linked app on your mobile device, won’t just allow you to pay for your morning coffee or check your bank balance, it will be able to give you better deals on your electricity bills, book and pay for flights, offer financial advice, approve loans in seconds and even prevent you going into debt. That’s the promise of Open Banking, the ‘revolution’ that most of us may have missed but is already underway.
Jacob Howard, Chair of the Chartered Institute of Marketing’s Financial Services group and Vice President of Marketing at Deutsche Bank hosted an event, with a stellar panel of leading figures across the financial services sector, posing the question to everyone in the room, ‘what does Open Banking mean for financial services marketers?’
If you missed this event or would like to find out more about how the evolution of Open Banking will affect financial services marketers, click on the link to the full video on our CIM YouTube channel: https://www.youtube.com/watch?v=Wx1jAevXDng&feature=youtu.be