SANTANDER UK
making a document e-sign and they take more explanation .”
Education in open banking Holman said the speed of digitalisation within open banking both in the UK and around the world calls for education within the sector to smooth the transition for their consumers .
“ We are undergoing the biggest ever change via open banking , so I think the banking sector and even the government have an education responsibility . It was launched by the industry three years ago , powered by technology and APIs , but there was no collective mass communication .”
“ Despite this , a huge number of people have adopted it because it creates an interesting and more competitive banking environment and lots of technical possibilities ,” said Holman .
Santander UK is going to launch a number of open banking propositions that will include helping customers permission data to them , as well as helping businesses collect payments from their customers by a smart invoice or via QR code payments .
“ Those are the big innovations that we ' ve seen take off in other markets , particularly China , but also increasingly in Europe , so we ' re hoping to bring those benefits to the UK . Finally , we ' re looking at AI and more end-to-end automation with our digital platforms and will continue to shape every customer experience to be the best version of itself that it can be ,” he said .