PHASE 1: SCOPE AND APPROACH

The Implementation Entity Steering Group (IESG) also agreed the proposed scope the first phase of CEF analysis Phase 1, which underpins this report. This is:

Outputs Analysis, including proposition availability by outcome area

The objective of this is to support an analysis of availability of open banking-enabled propositions by use case enabling us to assess availability of propositions against the 6 Outcome Areas, whether the proposition is targeted primarily at consumers or small businesses and how developed / mature the proposition is.

Intermediate Outcomes, including customer adoption by outcome area

The objective is to provide insight into which types of propositions end users have adopted and also to classify the maturity of propositions.

Intermediate Outcomes, including customer experience using open banking-enabled propositions

The objective will enable us to better understand whether customers value the open banking propositions they are using, and whether they are (or have the potential to) make a meaningful difference to their lives.

It was agreed by IESG that the primary focus should be on Outputs and the adoption aspects of Intermediate Outcomes (Items 1 and 2 from this list) that would then inform the research focus and approach for the experience elements of Intermediate Outcomes (Item 3 on this list). However, we have had the opportunity to undertake some additional analysis relating to customer experience, including results of an SME survey and an analysis of online reviews of open banking-enabled products and services, both of which provided some interesting preliminary perspectives on the experience that customers have when using open banking-enabled propositions.

We note that, as was envisaged, there is considerable complexity in measuring most of the CEF components and the data presented is largely indicative and directional. Generally, we have had to rely on a number of underlying assumptions, which are transparently stated. The ingoing assumption is that we will have the opportunity to refine the analysis over time adding more data sources and benefiting from improved data reliability over time. In line with previous discussions with the Expert Advisory Group (EAG) and elsewhere, we have adopted the following principles to our CEF reporting:

We will present data as objectively as possible and focus on what is factually accurate from the sources of research. As a consequence, our commentary will primarily focus on an explanation of the data rather than drawing subjective inferences from it.

We will limit the data that we use for it to surveys that have are quantitative and repeatable rather than including subjective, qualitative or non-statistical findings. .