New Data: FIs Cooling on Open Banking but Still on Course for Real-Time Payments
How Fraud Fears Impact FIs’ Adoption of Faster Payment Solutions
Forty-six percent of FIs say the fraud risks of providing open banking outweigh the benefits, but the share of skeptics rises to 57% among FIs that experienced increased fraud. PYMNTS Intelligence’s latest study of 200 FI execs, “How Fraud Fears Impact FIs’ Adoption of Faster Payment Solutions,” a collaboration with Hawk AI, details why FIs are cooling toward open banking but staying the course on real-time payments.
Inside the February Data Brief
- 81%: Portion of FIs that report they are able to offer secure real-time payments
- 35%: Share of FIs that feel the benefits of open banking outweigh the risks
- 78%: Share of FIs experiencing increased fraud that report they are able to offer secure real-time payments
