The number of people using open banking-enabled products has grown to more than two million in the UK, increasing from one million in January.
The Open Banking Implementation Entity (OBIE) argues that the one million increase in over eight months is impressive progress considering the challenges of COVID-19. The OBIE is the body tasked with making open banking happen in the UK.
This new number means that of the 66.65 million people living in the UK, around 3% are now using open banking-enabled services.
The OBIE takes its figures from the UK’s top nine banks. That is: Allied Irish Bank, Bank of Ireland, Barclays, Danske, HSBC, Lloyds Banking Group, Nationwide, RBS Group and Santander.
The OBIE says open banking adoption climbed at an average rate of around 160,000 users per month
So, the two million does not include the progress made by digital disruptors.
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