NEW YORK—An increasing number of Americans are looking more favorably upon the idea of open banking, according to a new survey.
More than half (55%) of respondents in the Axway study said they have heard of open banking, with 32% believing they have a decent understanding of it, Fintech Nexus said.
The awareness rate rises from 48% in 2021. Also on the way up are Americans’ attitudes about the movement toward open banking. Today, 60% believe it’s a positive development, up from 51% in 2021, Fintech Nexus stated in its analysis.
Axway is a global API management and integration software provider with 11,000 customers across 100 countries. The survey polled 1,000 American adults about their expectations and top concerns about how companies use, track and handle their personal data.
‘One Clear Result’
“One clear result is that all industries must better educate consumers about how they protect their data. More than half of Americans, 56%, don’t know where their data is stored; 87% wish they knew what data companies collected on them,” Fintech Nexus said.
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