In our second Impact Report we examine the continued expansion of open banking services in the UK and their growing adoption.

We also analyse, for the first time, consumer reaction to open banking services and explore whether they are changing how individuals manage their finances and whether they are seeing long-term benefits to their financial health.

This report is intended to provide regular insights into the development of open banking in the UK, focusing on outcomes for end users. It is built using a methodology developed by the Personal Finance Research Centre at the University of Bristol. The insights are based on several data sources and research studies which we detail in the methodology sections. Because of the fast pace of change and difficulty in definitively establishing end user outcomes, findings are indicative and should be used for information purposes only.