Three-quarters of global banks aren’t “operationally ready” to engage in open banking, with traditional lenders lacking the tools of digital-first providers to be able to offer highly personalised services to customers, according to a study.
While new open banking regulations have helped enable data sharing, 75 per cent of financial institutions are not yet prepared to take advantage of the technology, according to the third annual Digital Banking Experience report published recently by Sopra Banking Software.
