Greg Carter: Bridging alternative finance's 'understanding gap'

In an era of ‘open banking’

clock • 3 min read

The advent of 'open banking' in 2018 offers both an opportunity and an incentive for alternative finance providers to help bridge the 'understanding gap' felt by individuals and businesses alike, writes Greg Carter

It is no secret banks have found it difficult to adjust to what is becoming known as ‘the age of the individual'. Technological advances have resulted in services becoming more and more bespoke - tailored to each customer in ways that just were not possible even a few years ago. This means alternative finance providers are in a great position to take advantage of this in the months and years to come, providing better services to customers as a result. Why? It's all about understanding. First, a bit of context. For years, the big banks took advantage of having data centralised and silo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The banks are back: What does this mean for advisers?

The banks are back: What does this mean for advisers?

Banks ‘uniquely positioned’ to provide advice to mass market

Sophia Panayi
clock 24 August 2026 • 6 min read
Social media investment advice leaves investors out of pocket - research

Social media investment advice leaves investors out of pocket - research

Over half who acted on social media financial advice regretted it

Isabel Baxter
clock 21 August 2026 • 3 min read
New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

'Employers will be expected to take all reasonable steps'

Emily Bradshaw
clock 19 August 2026 • 4 min read