Open Banking Payments: The Financial Wellbeing Opportunity Nobody’s Talking About

Sex. Politics. Religion.

Money is such an uncomfortable topic that, in a 2022 study, 40% of respondents said they'd rather discuss any of these three others instead.

Because Open Banking combines comprehensive (and secure) access to payment data and instant payments, it also holds the potential to dramatically enhance financial wellbeing, helping people manage their money more effectively and take control of their financial future.

In this white paper, we'll:

Look at how (and why) Open Banking Payments technology holds the potential to greatly enhance consumers' financial wellbeing.

Take a deep dive into the key use cases of Open Banking Payments.

Show how better financial wellbeing isn't just good for consumers, but benefits merchants, banks, and other financial services providers, too.

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2021 Building Society Sector Analysis Report - Open Banking

A review of the strategic landscape for Building Societies

55% of Building Societies see Open Banking as an opportunity for the sector

In this market-leading report from Whitecap Consulting in partnership with The BSA - with contribution from Moneyhub - discover the opportunities, threats, and perceived barriers to adopting the latest Open Finance technology affecting the industry today. With detailed quantitative data analysis of all 43 Building Societies, plus interviews with 33 Building Society CEOs, the report delves deep into the key differentiators affecting the strategic landscape for Building Societies - both now and into the future.

Download the report

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“Digitise or die”*: a call to arms for building societies

A report examining the pressures on building societies to digitally transform to meet the needs of today’s and tomorrow’s consumers

* Quote from senior sector stakeholder

Building societies, with their deep-rooted community ties and commitment to member benefits, stand at a critical juncture. Historically, building societies have achieved the levels of customer-centricity that wider financial services have fallen short of. The digitisation of financial services mandates a strategic re-evaluation.

This report draws on interviews conducted with building society leaders from the likes of Nationwide, Skipton, Yorkshire, Coventry, The Building Societies Association and more, along with a nationally representative survey of 2,000 British adults.

We aim to provide building societies with insights and guidance on navigating the complexities of a marketplace that is increasingly governed by data and evolving consumer demands. It emphasises the necessity for firms to adapt and innovate, outlining the strategies required to secure customer primacy in a competitive environment.

Download this report to find:

Insights from new research among building society customers, wider consumers and building society leaders

Analysis of the gap between consumer expectations of digitalised services and building societies’ propositions

A breakdown of the digitalisation challenge for building societies

An outline of the opportunities presented by Open Banking-driven solutions

Recommendations for effective fintech partnerships