Consumers are excited for Open Banking features

Research by Frollo shows that 1 in 3 consumers would consider switching banks to get Open Banking features.

Consumers are excited about the new and improved user experiences Open Banking can provide.

We asked more than 500 consumers about the most popular Open Banking use cases and it turns out that most of them would use these features if their bank provided them. 1 in 3 would even consider switching to get access to these features.

Popular Open Banking powered features

Research previously conducted by Frollo and NextGen.Net, showed that some of the most valuable Open Banking use cases for businesses are Income & Expense verification, Personal Finance Management (PFM) and product comparison.

Frollo’s most recent consumer research shows that the majority of respondents are keen to use these features if their bank offered them and 36% would even consider switching banks for at least one of these features.

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Who we are

Frollo is a purpose-driven Australian FinTech on a quest to help people feel good about money. We’ve built the simplest way to help people get their finances on track – and through our business ecosystem, we’re supporting our enterprise clients to do the same for their customers.

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