The Consumer Evaluation Framework (CEF) is a tool designed, over time, to build analysis of whether open banking is delivering intended end user outcomes. The first output of this work is the initial Open banking Impact Report providing an initial view of key metrics that should be regarded as a foundation which will develop over time.

Outputs and Immediate Outcomes (Availability and Awareness): the Framework envisages that a first step is availability of open banking-enabled products and services and customer awareness and positive perceptions of these products and services. There is a wide degree of consensus that customer awareness of open banking (the technology) per se, is of less importance than awareness of open banking-enabled propositions and services.

Intermediate outcomes (Experience): the second step is customer adoption and positive experience of open banking-enabled products and services that meet their needs.

Ultimate outcomes (Benefits): the third and final step is that customers experience sustained benefits from being able to access and use open banking-enabled products and services in a way that improves their financial position.

In addition, we set out in the Framework six customer outcomes areas that we believe provide a comprehensive, but concise categorisation of the customer objectives of open banking, as set out in the CMA Order. The purpose of clustering in this way was to reflect the granularity of the CMA Order desired outcomes, but in a pragmatic way, which practicality facilitates the ongoing analysis and reporting. We ensured that the defined customer outcomes were sufficiently tethered to the policy objectives of the CMA Order. As we set out later in this report our Ecosystem Audit analysis demonstrated that with very few exceptions, the propositions in market do consistently fall within the agreed categories. These outcome areas are shown on the Appendix page for ease of reference.


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