Will open banking revolutionise the protection market?

clock • 3 min read

Open banking has increased customer engagement across younger demographics, but can it do the same for protection? Cameron Clark investigates

With the rise of open banking services opening up the sector to new methods of innovation and new tools by which clients can manage their finances, the UK banking sector has seen growth in the proliferation of banking products popular amongst millennial and generation Z demographics. Digital-only banks such as Monzo, which forecasts itself to hit one million customers by Autumn 2018, as well as Atom Bank, Tandem and Starling, have been successful in targeting these younger demographics by streamlining the application process, as well as providing intuitive and transparent real-time infor...

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