Katie Evans, Author

Busting the banks open

8 November 2016


The Open Banking Standard and remedies prescribed by the recent Competition and Markets Authority investigation on retail banking recognise the value of providing consumers with access to their own data. Armed with this insight into their own behaviour and situation, consumers are empowered, through technology, to make better decisions and save money. However, the tools that consumers must use to make use of their own data need to learn what patterns they’re looking for if they are to provide much-needed budgeting support for British families who are just managing to make ends meet. This paper sets out the case for a major data study of financial difficulty ahead of the Open Banking launch in 2018 – boosting competition against the big banks and improving financial wellbeing.


Read the full policy note here