It’s crucial for banks to start participating in the finance revolution, especially as millennials are on the hunt for open banking—at least, according to bankers.
According to a survey of 300 banking officials, conducted by Marketforce and Earnix, developing open APIs is becoming more and more crucial to retaining customers.
In fact, 80% of the respondents are expecting “a significant increase in competition” over the next few years, credited to the growing industry focus on open banking and personalization.
