OPEN BANKING / DATA
He continues : “ Leveraging Open Banking , these business models create experiences that are akin to super apps in the sense that they offer a blend of traditional banking services and more lifestyle-oriented services such as travel perks , insurance and rewards — all in one place .
“ Open finance is gaining traction beyond traditional banking . Nonbanking players like energy providers , telecommunications companies and insurers are embracing Open Banking to enhance customer service and gain deeper insights .”
Laura Friend , UK Enterprise Lead at Amplitude , concludes : “ With a deeper understanding of their customers , companies can make targeted improvements that create effective and enjoyable , digital experiences .
“We ’ re moving away from just Open Banking to open finance and smart data ”
BART WILLAERT EVP OF OPEN BANKING INTERNATIONAL MARKETS , MASTERCARD
“ Whether users are looking to move money , check their credit score , or make a loan payment , they want a seamless , fast experience , even if it involves moving between different products and applications .” fintechmagazine . com 163