Open Banking Developments – Updating Payments

In this clip, Stephan van Calker from Tink discusses the decline in consumer trust, linking it to challenges faced by customer support centers in efficiently assisting with bill payments.

Recent research highlights the impact of the cost of living crisis on this trust. They suggest that Open Banking could improve customer experiences by offering more control over bill payments, noting that 51% of customers want better management of their payments, and 70% would switch providers for more flexible payment dates. They critique the rigidity of direct debit systems and propose checking bank balances before debiting to reduce customer stress and improve financial management.

See the full interview and find out more about Tink -> Here.

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