Daniel Meere: What lessons can financial advisers take from open banking?

Digital business

clock • 8 min read

Daniel Meere considers the leads the financial adviser community can take from the banking sector's experience of the first 12 months of 'open banking' to help them along their own digital journey

Open banking took effect in January 2018 to shake up the way in which customers - both individuals and small and medium-sized enterprises (SMEs) - interact with their banks. It set out to pave the way for new products and services from those offering mobile and digital banking to help consumers manage their money more effectively and secure better deals for financial services. Acting as a boon for the growing cohort of mobile-only banks, it has also been a wake-up call for more traditional players - prompting them fundamentally to reassess the way they treat their customers. In some resp...

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 Technology

Advisers need to find their technology 'superpower'

Advisers need to find their technology 'superpower'

‘Advice firms need to decide where they want to put their tech focus’

Isabel Baxter
clock 28 March 2024 • 1 min read
Technology is driving a financial planning revolution

Technology is driving a financial planning revolution

'Don't underestimate what can be achieved in the next decade'

Ben Goss
clock 21 March 2024 • 4 min read
Second wave of AI investment calls for more diversification

Second wave of AI investment calls for more diversification

Investors urged to think outside the box and away from technology

Hope Coumbe
clock 20 March 2024 • 2 min read