Open pensions and open finance: building a better future for UK savers
Reports on 1st October 2020
Open Banking was only a stepping stone toward open finance. While Open Banking guaranteed consumers access to their payment account data, open finance aims to give consumers a holistic view of all their finances. This means a consumer should see their banking (current and savings accounts), mortgages, credit cards and pensions account in one place. But the question remains: which of these sectors has the broadest reach and maximum impact for UK consumers?
Plaid, PensionBee and Innovate Finance have come together to launch a new report Open Pensions and Open Finance: building a better future for UK savers. The report highlights how open finance can help shape the way millions of UK consumers engage with their finances and calls for the introduction of open pensions to enable consumers to make better informed financial decisions.