The paper shows that 40% of banking customers across Europe’s biggest markets are not currently using any Open Banking solution. YTS also sets out how this potential can be unlocked. The EOBO, produced in partnership with the Centre for Economics and Business Research (CEBR) and experts from around Europe, tracks the progress of Open Banking across the continent’s six largest markets: Spain, the UK, Germany, France, Italy, and the Netherlands.
YTS and CEBR commissioned Censuswide to survey nationally representative samples of more than 1,000 banking customers in each of these countries. Using four pillars:
- Openness – evaluates the degree to which relevant institutional and regulatory environments within each country support the Open Banking development;
- Availability – analyses how financial institutions have worked alongside third-party providers (TPPs) to enable customers to access Open Banking solution;
- Engagement – evaluates the extent to which bank customers in each country have made use of Open Banking;
- Impact – analyses the benefits that a range of Open Banking solutions have delivered to customers in each country, and the potential for wider use in the future.
The study also considers the different practical, operational, and cultural circumstances present in each market as important contextual factors for assessing the development of Open Banking.