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Open Banking FinTech Frollo's latest consumer report suggests two thirds of consumers would consider changing banks if the process was easier and friction was removed.
The report surveyed consumers from a range of backgrounds, and not just those who already use FinTech products, supporting the hypothesis that if banks offers products & services that have hitherto been offered only by FinTechs, consumer appetite would be high.
Recent changes to the Open Banking accreditation process have seen a flurry of activity outside the banking section, offering further vindication and traction of the CDR (consumer data right) regime.
https://www.frollo.com.au/blog/two-thirds-of-australians-want-to-use-open-banking-to-switch-banks/
Madeline Cunningham
IdeaSpies
Jennifer Harrison