There are far greater implications to open banking than many realise. The new legislation provides consumers with more user-friendly access to their transactional data – and brands should be prepared for the significant changes in shopper behaviour this could cause.
While it’s all just starting to kick in, major banks and business consultancies have already recognised the need to prepare and acknowledge that open banking poses strategic questions that need to be understood and answered urgently.
Vipera (LON:VIP) is a true pioneer; present at the dawn of mobile banking over a decade ago, enabling the first steps taken by banks to provide a smartphone based customer experience.
Today Vipera’s proprietary bank-grade platform Motif powers over 4 million apps across the globe for the world’s leading banks & retailers, enabling mobile banking, mobile payments and mobile marketing at the frontier of market possibilities.