Let’s look at how modern personal finance management value propositions address many of the pain points of traditional banking apps:
- All in one place
- Spend smart
- Simplified budgets
- Improve your financial conditions
In addition to making existing banking services easier and faster, another promise of Open Banking is the creation of highly reliable and secure options that simply wouldn’t exist otherwise. For example, account aggregation apps, which allow customers to see all their accounts from different institutions on one screen, were among the first open banking offerings to hit the market.