UK and Nordics lead Open Banking in Europe

06/21/2021   •   Customer news
UK and Nordics lead Open Banking in Europe
According to a new report by Mastercard, which conducted in-depth research into how prepared European countries are to embrace the open banking ecosystem, the Nordic countries have been crowned best placed to take advantage of it, together with the UK. 

The report - ‘Open Banking Readiness Index: The Future of Open Banking in Europe’ - found the Nordics’ and UK’s digital infrastructures ensure the countries are very well-placed to allow widespread use of this concept: 

- Households with internet access: 95% Denmark; 98% Norway; 96% Sweden; 96% UK 
- Per cent of mobile phones which are smartphones: 88% Denmark; 95% Norway; 79% Sweden; 83% UK 
- Proportion of 14-76 year olds using digital banking: 91% Denmark; 95% Norway; 84% Sweden; 88% UK

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