{"id":728,"date":"2024-02-10T14:36:42","date_gmt":"2026-05-11T16:24:05","guid":{"rendered":"https:\/\/younited.com\/group\/insight\/mastering-open-banking-a-strategic-guide-for-banking-executives\/"},"modified":"2026-06-04T21:59:08","modified_gmt":"2026-06-04T21:59:08","slug":"mastering-open-banking-a-strategic-guide-for-banking-executives","status":"publish","type":"insight","link":"https:\/\/younited.com\/group\/en\/insights\/mastering-open-banking-a-strategic-guide-for-banking-executives\/","title":{"rendered":"Mastering Open Banking: a strategic guide for banking executives"},"content":{"rendered":"\n
This white paper outlines Younited\u2019s six-year journey with Open Banking, highlighting its evolution from a nascent technology to a crucial element of modern lending. Since 2011, we have shifted from traditional processes to embracing Open Banking by 2018, significantly enhancing customer experience. As of 2024, instant credit constitutes 60% of our loan origination in Europe, projected to rise to 80%.<\/p>\n\n\n\n
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Why this is a game-changer?<\/h2>\n\n\n\n
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Better value proposition<\/li>\n\n\n\n
Smoother user experience<\/li>\n\n\n\n
More inclusivity<\/li>\n\n\n\n
Reduced fraud<\/li>\n<\/ul>\n<\/div>\n\n\n\n
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Open banking at Younited by the numbers<\/h2>\n\n\n\n
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<\/span>5<\/span>sec<\/span><\/p>
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that\u2019s all it takes for Younited to process data collection, credit scoring, and custom pricing.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n
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Open banking isn\u2019t just a trend, it\u2019s becoming the standard<\/h2>\n<\/div>\n\n\n\n
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<\/span>85<\/span>%<\/span><\/p>
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In some contexts, we\u2019ve achieved a 85% adoption rate for open banking, highlighting the good fit between customers\u2019 expectations and our user experience.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n
In 2023, we processed nearly 2 million bank connections. Our open-banking operations have grown 35-fold over the last five years, showing the significant traction this technology has gained.<\/p>\n\n\n\n
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Starting with a standard digital granting process, by 2018 we had embraced the early potential of Open Banking. This shift wasn't just a change in technology; it was a reimagining of customer experience, streamlining granting processes and enabling real-time solvency analysis.<\/p>\n\t
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