Has open banking lived up to expectations during the pandemic? This survey will reveal the answers

The second in a two-part survey - The first age of open banking – living up to its promise? will ascertain many different trends, activities and successes lenders have had with open banking.

One of the findings will show the extent to which creditors are using open banking in early warning systems, to discover customers at risk of delinquency during this latest lockdown.

The survey will unearth how far lenders are deploying open banking across credit cards, mortgages, current accounts, SME loans and car finance. But it will also go further: prising out trends on the functions for these products, that open banking is being used for.

That means the study will reveal not only how open banking is being deployed (such as to enhance assessments on affordability, credit-worthiness, income verification, vulnerability, collections or other areas), but also how lenders rate the success of its implementation, and reasons why the deployment was or wasn’t effective.

All participants who take the survey will get free premium membership of Credit Strategy for themselves, and a ’rising star’ within their company, for three months. Current premium members who take part will be able to offer the same to two rising stars in their firm.