The audience is growing. Of Digital consumers who use open banking solutions in Italy, with a success rate in accessing current account data that rose overall by 1.7 percentage points in the first half of the year 49.2%. A higher confidence is also demonstrated by the progressive increase in the shares of older customers, such as those belonging to them Generation X and the Baby Boomers. The share of has also decreased. High risk profiles.
Open banking: Italians with at least one linked account are on the rise.
Here are some proofs. Market Outlook prepared by CRIF ButOpen Banking in Italy, rOrganized in conjunction with Tomorrow Speaks, CRIF’s annual event dedicated to the evolution of the financial sector. This research describes the characteristics of open banking in our country, analyzes the profile and characteristics of customers, their needs, credit attitudes and payment habits. The representative sample under study is about 180,000 counterparties and about 240,000 current accounts, with about 74 million transactions, derived from CRIF’s account aggregation services which AISP (Account Information Service Provider) with national and international financial players.
Market Outlook CRIF: Numbers
“Reflections Open banking is evolving. Also in Italy, although at a slower pace than in markets where it is more mature such as the UK. Even in the first half of this year, trust and access to accounts are on the rise, now completed for one in two users. From our analysis The point of view The characteristics and characteristics of Italian digital consumers using Open Banking reveal that they belong not only to the younger generations, the digital natives, but also to Generation X and Baby Boomers, who are growing even more this year. Consistently, we detect a shift towards higher income consumers and growth among those who are already active in the credit market” – he comments. Simon Captchi, Executive Director of CRIF.
Older users are growing.
The fact that Italians view open banking with greater confidence is also evidenced by the shift towards younger generations, with the share of customers belonging to Generation X and Baby Boomers increasing by +4.8 and +6.5 percentage points respectively in the first half. has happened This year
Open Finance: The Next Evolution
From 2025, with the final version of the European FIDA (Financial Data Access) regulation, which provides regulated access for all financial services, we will enter the era of open finance. L’Open Finance Open banking looks to share and access even more banking data and products through APIs. In particular, it aims to further expand access to financial data, go beyond open banking and embrace a wider range of products and services, including: credit, mortgage, savings, pensions, tax, insurance, capital Kari Through the secure sharing of this data, Open Finance aims to create a more integrated and collaborative financial ecosystem, where consumers, banks, financial institutions and new players (Come on FISP, i.e. financial information service providers) can communicate to offer. Modern and customized solutions.
Implementation of Open Finance The same challenges will be faced that have partially slowed the spread of open banking to date, notably: guaranteeing data security and privacy; defining common and harmonized standards nationally and internationally; promoting consumer financial education; manage the risks associated with increased competition”, explains CRIF Executive Director Antonio Delda. “These challenges also present an opportunity to create a more secure, transparent and competitive financial ecosystem. Collaboration between all actors involved will be fundamental to success. Deal’Open Finance and to realize its full potential.”
