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Open banking important to the future of banking services

Financial institutions are becoming more client-focused than ever before. And open banking is providing banks with the means and opportunities to reorganize their products and services in accordance with the experiences and expectations of their customers. Furthermore, it is envisioned that, in the future, there will be two main types of financial platforms: those which allow other companies to offer financial services and those which aggregate the finances of a particular company/person into a single, easily-manageable location. In either instance, it is important that financial institutions remain at the forefront of these technologies, especially given that, for customers, the only truly important thing is the user experience.

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