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Open Future: what does Open Banking mean for accounting firms?
This research, carried out with over 200 UK acccountants, shows how Open Banking has impacted accounting firms across the world.
We found:
- While 50% of clients struggle with cash flow, only 25% of practices offer cash flow management or advice.
- Nearly half of respondents (46%) are already using an Open Banking solution in their practice.
- Average client adoption is lagging behind at 20-30% .
- Accountants still primarily view Open Banking as an efficiency tool for expenses, Accounts Payable (AP), Accounts Receivable (AR) and bookkeeping.
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