According to a survey of a representative sample of UK consumers in 2023, the main perceived benefit of open banking was its perk of speeding up financial transactions and services, with 53 percent of the respondents agreeing with this statement. Ease of use was the second most significant benefit. In terms of use cases, payments to a third party was by far the most widely used application of open banking, with 74 percent of the respondents making use of this function of open banking.
Main perceived benefits and use cases of open banking in the United Kingdom (UK) in 2023
Basic Account
Get to know the platform
You only have access to basic statistics.
This statistic is not included in your account.
Starter Account
The ideal entry-level account for individual users
- Instant access to 1m statistics
- Download in XLS, PDF & PNG format
- Detailed references
$199 USD / Month *
Professional Account
Full access
Business Solutions including all features.
* Prices do not include sales tax.
Other statistics that may interest you Statistics on
About the industry
10
- Premium Statistic Open banking transaction value South Korea 2019-2023
- Premium Statistic Largest European digital banks 2024, by funding amount
- Premium Statistic Online and mobile banking transactions in the Netherlands 2015-2021
- Premium Statistic Annual net profit/loss of N26 2016-2022
- Premium Statistic Number of open banking users South Korea 2020-2023
- Premium Statistic Number of customers at selected digital banks in Europe 2023
- Premium Statistic Number of mobile banking users of Bank of America globally 2012-2023
- Premium Statistic Number of active internet banking customers in Turkey 2014-2023
- Premium Statistic Profit/loss after tax of Revolut 2015-2022
- Premium Statistic Banking channels used by customers in Kenya 2021-2022
About the region
10
- Premium Statistic Monthly bank rate in the UK 2012-2023
- Premium Statistic Quantitative easing by the Bank of England 2009-2020
- Premium Statistic Share of credit and debit cards with contactless functionality in UK 2007-2020
- Premium Statistic Bank capital to assets ratio in the United Kingdom (UK) 2012-2022
- Premium Statistic Total assets of the largest banks in the UK 2012-2023
- Premium Statistic Financial review of Tesco Bank in the United Kingdom (UK) 2022/23
- Premium Statistic Shawbrook Bank's Group and Company total assets in the UK 2013-2023
- Premium Statistic Annual number of instant payment transactions in the UK 2008-2022
- Premium Statistic Revenue of the largest banks in the UK 2010-2023
- Premium Statistic Number of online banking users of the Lloyds Bank in the UK 2016-2023
Selected statistics
1
Other regions
10
- Premium Statistic Number of orders processed in Elixir system in Poland 2011-2023
- Premium Statistic Fundraising amount of digital banking fintechs in Mexico 2024
- Premium Statistic Active online and mobile banking users of Sberbank in Russia 2013-2022
- Premium Statistic Time of last visit in bank branch in the U.S. 2016
- Premium Statistic Mobile banking customers' share in the online banking sector South Korea 2017-2022
- Premium Statistic Total assets of N26 2016-2021
- Premium Statistic Share of British adults in possession of a bank account in the UK 2015, by gender
- Premium Statistic Colombia: most disruptive technologies in the financial sector 2018
- Premium Statistic Comparison of mortgage owner's satisfaction with major banks Australia 2019
- Premium Statistic Methods used to perform banking transactions in Canada from 2012 to 2018
Related statistics
10
- Premium Statistic Largest banks in the Netherlands 2023, by total assets
- Premium Statistic Money service complaints reported to CFPB in the U.S. 2023
- Premium Statistic Number of consumer complaints reported to CFPB in the U.S. 2023, by type
- Premium Statistic Distribution of consumer complaints received by CFPB in the U.S. 2023
- Premium Statistic Shareholders equity at Deutsche Bank 2006-2022
- Premium Statistic Net profit of BNP Paribas Fortis 2014-2023
- Premium Statistic Phased-in CET 1 ratio of BNP Paribas Fortis 2014-2023
- Premium Statistic Total equity of BNP Paribas Fortis 2014-2023
- Premium Statistic Total assets of BNP Paribas Fortis 2014-2023
- Premium Statistic CET 1 ratio of Rabobank 2012-2023
Further related statistics
10
- Senior chief financial officer salary per annum in Switzerland 2023
- NatWest group total income of the Ulster Bank Rol 2012-2023
- Prepaid debit card use in U.S. households 2013-2019, by tenure
- Total assets of the Industrial and Commercial Bank of China 2012-2022
- Operating income of the Industrial and Commercial Bank of China 2012-2022
- Total assets of the Bank of Communications 2012-2022
- Revenue of the Bank of Communications 2022
- Total assets of the China Construction Bank 2012-2022
- Return on average common shareholder equity at Goldman Sachs 2009-2023
- Employee compensation and benefits at Deutsche Bank 2006-2022
Further Content: You might find this interesting as well
Statistics
- Senior chief financial officer salary per annum in Switzerland 2023
- NatWest group total income of the Ulster Bank Rol 2012-2023
- Prepaid debit card use in U.S. households 2013-2019, by tenure
- Total assets of the Industrial and Commercial Bank of China 2012-2022
- Operating income of the Industrial and Commercial Bank of China 2012-2022
- Total assets of the Bank of Communications 2012-2022
- Revenue of the Bank of Communications 2022
- Total assets of the China Construction Bank 2012-2022
- Return on average common shareholder equity at Goldman Sachs 2009-2023
- Employee compensation and benefits at Deutsche Bank 2006-2022
Fintech Finance. (March 8, 2023). Main perceived benefits and use cases of open banking in the United Kingdom (UK) in 2023 [Graph]. In Statista. Retrieved May 16, 2024, from https://www.statista.com/statistics/1389439/benefits-and-use-cases-of-open-banking-uk/
Fintech Finance. "Main perceived benefits and use cases of open banking in the United Kingdom (UK) in 2023." Chart. March 8, 2023. Statista. Accessed May 16, 2024. https://www.statista.com/statistics/1389439/benefits-and-use-cases-of-open-banking-uk/
Fintech Finance. (2023). Main perceived benefits and use cases of open banking in the United Kingdom (UK) in 2023. Statista. Statista Inc.. Accessed: May 16, 2024. https://www.statista.com/statistics/1389439/benefits-and-use-cases-of-open-banking-uk/
Fintech Finance. "Main Perceived Benefits and Use Cases of Open Banking in The United Kingdom (Uk) in 2023." Statista, Statista Inc., 8 Mar 2023, https://www.statista.com/statistics/1389439/benefits-and-use-cases-of-open-banking-uk/
Fintech Finance, Main perceived benefits and use cases of open banking in the United Kingdom (UK) in 2023 Statista, https://www.statista.com/statistics/1389439/benefits-and-use-cases-of-open-banking-uk/ (last visited May 16, 2024)
Main perceived benefits and use cases of open banking in the United Kingdom (UK) in 2023 [Graph], Fintech Finance, March 8, 2023. [Online]. Available: https://www.statista.com/statistics/1389439/benefits-and-use-cases-of-open-banking-uk/