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March 19, 2019
2019-5384

Five approaches to secure open banking

Open banking is going to mean big things for the financial sector, but there is still a lack of clarity around exactly what it will mean for individual participants in the ecosystem. Banks may not know why they should be opening up their field to new competitors. Businesses and SMEs may not want to spend time and money on new technologies or strategies. And customers may feel uncomfortable about sharing their data with banks, when the benefits of doing so remain unclear. Hamish Thomas, EY EMEIA Payments Leader and UK Advisory Banking Technology Leader, Anita Kimber, Ernst & Young – UK Digital and Innovation Partner and Wayne Brown, EY UK Advisory Digital Banking Operations Leader, provide five approaches to secure open banking.

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