Ipsos MORI was commissioned by Barclays to conduct research with consumers to better understand their attitudes, emotions and likely behaviour in the context of the launch of Open Banking. The main component of the study was a full-day deliberative workshop, with 27 participants who already used online or mobile banking.

1. © 2018 Ipsos. All rights reserved. Contains Ipsos' Confidential
and Proprietary information and may not be disclosed or
reproduced without the prior written consent of Ipsos.
Open banking data dilemmas | April 2018 | PUBLIC 1
Paul Stamper
Ipsos MORI
Head of Financial Services
DATA SHARING DILEMMAS
OPEN BANKING

2. Open banking data dilemmas | April 2018 | PUBLIC 2
OBJECTIVES
1
2
3

3. Open banking data dilemmas | April 2018 | PUBLIC 3
WORKSHOP
DECEMBER 2017
6hrs
ANALYSIS
INTRODUCING
THE DETAIL
DEEPER
EXPOSURE
INITIAL
REACTIONS

4. 4Open banking data dilemmas | April 2018 | Version 1 | PUBLIC

5. Open banking data dilemmas | April 2018 | Version 1 | PUBLIC 5
What’s the
benefit for the
bank? Because
there must be a
benefit for them.
(Female 25-45)
There are other
things out there,
so why? Why
for the banks?
Why now?
(Female 18-25)

6. Open banking data dilemmas | April 2018 | Version 1 | PUBLIC 6
Who is their
market? What sort
of person are they
looking for? Young,
old, middle aged?
(Male 45-65)
I don’t see the need
for it, it’s all very easy
already… Faster and
faster; easier and
easier [are] marginal
differences and
unnecessary.
(Male 25-45)

7. Open banking data dilemmas | April 2018 | Version 1 | PUBLIC 7
Our banking is the
last bit of privacy left
in this world, and now
it’ll be everywhere.
Banks should be different
from other companies.
They should be really
secure, really private.
(Male, aged 18-25)

8. Open banking data dilemmas | April 2018 | PUBLIC 8
PRIMARY
CONSIDERATIONS:
HIERARCHY OF CONSIDERATIONS
ATTITUDE TO
CONTROL OF
FINANCIAL DATA
DISCLOSURE
PERCEIVED
ACCOUNTABILITY
OF BANK
PERSONALITY
TYPE
TRUST IN
TECHNOLOGY
SECONDARY
CONSIDERATIONS:
TERTIARY
CONSIDERATIONS:

9. Open banking data dilemmas | April 2018 | PUBLIC 9
PRIMARY
CONSIDERATIONS:
HIERARCHY OF CONSIDERATIONS
ATTITUDE TO
CONTROL OF
FINANCIAL DATA
DISCLOSURE
PERCEIVED
ACCOUNTABILITY
OF BANK
PERSONALITY
TYPE
TRUST IN
TECHNOLOGY
TRUST IN
PROVIDER
BENEFITS RISKS
SECONDARY
CONSIDERATIONS:
TERTIARY
CONSIDERATIONS:

10. Open banking data dilemmas | April 2018 | PUBLIC 10
PRIMARY
CONSIDERATIONS:
ATTITUDE TO
CONTROL OF
FINANCIAL DATA
DISCLOSURE
PERCEIVED
ACCOUNTABILITY
OF BANK
PERSONALITY
TYPE
TRUST IN
TECHNOLOGY
TRUST IN
PROVIDER
BENEFITS RISKS
ATTITUDE
TO CONTROL
OF PROCESS
SENSE OF
REASSURANCE
SENSE
OF EASE
SECONDARY
CONSIDERATIONS:
TERTIARY
CONSIDERATIONS:
HIERARCHY OF CONSIDERATIONS

11. Open banking data dilemmas | April 2018 | PUBLIC 11
CONSENT AND REDIRECTION
FLEXIBILITY
TRANSPARENCY

12. Open banking data dilemmas | April 2018 | PUBLIC 12
Even if you give consent,
when do you get the option
to opt out? Can you stop?
Will it stop or does it still
continue? I need an option
to change my mind, to stop
instantly.
(Male 25-45)

13. Open banking data dilemmas | April 2018 | PUBLIC 13
CANCEL AT
…WITH
CONFIRMATION
FROM TPP
REVOCATION
Open banking data dilemmas | April 2018 | PUUBLIC 13
THE BANK
… AND WITH
FLEXIBILITY

14. Open banking data dilemmas | April 2018 | PUBLIC 14
My bank - it’s just
to do with them.
They’re the first people
I’d call up if something
went wrong. Even if it’s
the comparison tool’s
fault, the bank is the
easier way to go.
(Female 18-25)

15. Open banking data dilemmas | April 2018 | PUBLIC 15
MULTIPLE PARTIES
WHERE IS
GOING…
MY DATA
…AND
WHAT’S
BEING DONE
WITH IT?

16. Open banking data dilemmas | April 2018 | PUBLIC 16
They should tell you
because some people
might trust the provider
that they think it is but
not the attached one. You
would then feel they’re
being honest.
(Female 18-25)

17. Open banking data dilemmas | April 2018 | PUBLIC 17
POTENTIAL
RISKS
IMPLICATIONS
PERCEIVED
BENEFITS
OPEN
BANKING

18. Open banking data dilemmas | April 2018 | PUBLIC 18
I) BENEFITS
BECOME CLEARER
POTENTIAL
RISKS
IMPLICATIONS
PERCEIVED
BENEFITS
OPEN
BANKING

19. Open banking data dilemmas | April 2018 | PUBLIC 19
I) BENEFITS
BECOME CLEARER
2) TRUST IN PROVIDERS
POTENTIAL
RISKS
IMPLICATIONS
PERCEIVED
BENEFITS
OPEN
BANKING

20. Open banking data dilemmas | April 2018 | PUBLIC 20
I) BENEFITS
BECOME CLEARER
2) TRUST IN PROVIDERS
3) CAUTION WILL DECLINE
POTENTIAL
RISKS
IMPLICATIONS
PERCEIVED
BENEFITS
OPEN
BANKING

21. Open banking data dilemmas | April 2018 | PUBLIC 21
1
2
3
4
5
6
PRINCIPLES

22. © 2018 Ipsos. All rights reserved. Contains Ipsos' Confidential
and Proprietary information and may not be disclosed or
reproduced without the prior written consent of Ipsos.
Open banking data dilemmas | April 2018 | PUBLIC 22
Thank you
DATA SHARING DILEMMAS
OPEN BANKING