Over the past few years, financial institutions have faced major challenges, and, at the same time, opportunities have arisen to shape their future profit pools.
Below are the main factors that led financial institutions to lead the path of innovation:
It is imperative to mention that one key factor to winning customers’ trust and providing better products and services is putting ourselves in their shoes and acting on key factors that would make the customer feel comfortable and relieved about embracing open banking practices. Transparency in data, processes, and policies, while still maintaining data security, is the key to success.