Discover the leading open banking use cases – per country

What are the top open banking use cases for financial executives in France, Italy, Spain, Germany and the UK? We take a closer look at the country-level results from our survey in five new local reports.

TL;DR – Quick summary

  • Tink is releasing five new local reports based on our survey findings, zooming in on the open banking use cases being prioritised in each country.

  • The reports cover the results gathered in France, Italy, Spain, Germany and the UK.

  • There are key differences between the focus areas for these countries, such as France being the only one to see risk scoring as a top opportunity.

  • All reports are available for download in their local languages.

Use cases across Europe

As revealed in our survey report focusing on the open banking use cases being prioritised across Europe, the top investment areas selected across the continent relate to compliance efforts.

Looking at local results, compliance-related use cases also feature in the top picks for nearly all countries. But there are some interesting differences. We’re now releasing five new reports diving deeper into the local findings.

The customer experience is the top focus in Italy and Spain

When we look at where Spanish and Italian financial executives are investing in the most, the customer comes high on the agenda. ‘Financial management services’ is ranked as the number one use case in Italy (at 53.3%), and also featured in Spain’s top three (at 44.8%). The top spot in Spain was taken by ‘multi-banking services’ (at 48.3%).

The competition for digital customer experiences in these countries is intensifying, and valuable financial management and multi-banking experiences can make a significant difference when it comes to customer engagement.

Use cases across Europe

Compliance-related use cases on top for Germany and the UK

The top picks for German and British financial executives are two use cases related to compliance.

In Germany, ‘digital identity services’ and ‘transaction reconciliation’ tied for the first spot, at 36.7% each. Although it came out in third in the UK, identity was even more relevant there, being selected by 46.7% of the British respondents.

This is not really a surprise, as new legal requirements on strong customer authentication have led financial institutions to need to overhaul their interfaces and enable multi-factor security to better enable access for third-party providers. And many financial institutions are also exploring ways to leverage digital identity services in other industries.

In the UK, ‘KYC process automation’ came out on top (at 60.0%). While this is largely related to compliance with KYC (Know Your Customer) requirements, efforts to automate this process can also have a big impact in streamlining the customer experience.

France alone in eyeing opportunities within risk scoring

Out of the five countries included in the extended research reports, France was the only one where ‘risk scoring algorithms’ featured among their priorities – and it took the top spot (at 38.7%).

Until now, many banks in France have depended on other companies to perform risk analyses on their behalf – which has been a relatively manual and subjective exercise compared to other countries. With open banking, financial institutions have the opportunity to move this in-house to increase access, improve the customer experience, and lower costs.

Want the full scoop on the country-level findings? You can download each report in its local language:

TL;DR – Quick summary

  • Tink is releasing five new local reports based on our survey findings, zooming in on the open banking use cases being prioritised in each country.

  • The reports cover the results gathered in France, Italy, Spain, Germany and the UK.

  • There are key differences between the focus areas for these countries, such as France being the only one to see risk scoring as a top opportunity.

  • All reports are available for download in their local languages.

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