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Home > Stories > FinTech expert Dr Dimitrios Salampasis explains open banking

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FinTech expert Dr Dimitrios Salampasis explains open banking

Open Banking is a system designed to empower account holders by making it easier for them to switch to better deals on home loans or savings accounts, by sharing data with alternative service providers.

Over the last 6 years banks across Australia have been investing in open banking. However, despite the investment, banks have only seen a 0.3% uptake of the system.

Why is the uptake so small and how does it all work?

Swinburne University financial technology expert, Dr Dimitrios Salampasis, explains.

OTR_OpenBanking

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