He says:

“If the UK is to become the first ever net zero aligned financial centre, consumer carbon consumption must change. Open banking can be the catalyst for this.

A recent survey we conducted revealed that 28.6% of 1,987 UK consumers said they would choose to use a new payment method if it has a positive environmental impact. This highlights how consumers today are actively becoming more aware of their carbon footprint and as such, are seeking to use, buy and consume goods through conscious channels.

Built on smaller infrastructures, open banking is, arguably, a more sustainable solution compared to larger, traditional card infrastructures. It would be foolish for financial institutions and listed companies not to listen to consumer demands - implementing open banking into their net-zero strategies is undoubtedly the way forward.”