Why open finance should be important to you 🔓

  • Payments are made safer and cheaper through increased competition. They also become more efficient and connected.
  • Consumers have access to more financial tools. This includes several financial services aimed at helping them manage their money, save, invest and more.
  • Small and medium enterprises often experience problems like insufficient access to credit, capital and important financial services products and products, because they’re unavailable or just too expensive. Open finance creates an environment where these restrictions can be lifted.
  • Other services become faster. Think about the admin you go through when taking out a loan. Instead of you having to collect all your data and provide it to lenders manually, they have automatic access to your data — with your explicit consent — making it easier for everyone involved.

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22seven

22seven

Thoughts, observations and insights. About money, life and 22seven. Visit 22seven.com