Two-thirds of consumers want view of their financial data in one place

More than two-thirds (67%) of consumers in the UK said they would find it easier to view all of their financial information in one place highlighting the demand for open finance, according to a new survey by data aggregation and analytics platform Envestnet Yodlee.

The 2,000-person survey explored the attitudes of consumers in the UK towards accessing their finances online, and their willingness to allow their financial information to be shared securely with financial providers.

The survey found that willingness for better access to their financial data was highest amongst younger generations. 80% of 16–24-year-olds and 82% of 25–34-year-olds said they would find it easier to manage their financial lives if they could view it all in one place.

Jason O’Shaughnessy, Head of International Business at Envestnet Yodlee, said “Gaining greater access to your own financial data can unlock a number of benefits and give people better control over their finances. Financial insecurity is increasingly prevalent amongst younger generations, so it is encouraging to see an increased level of willingness to actively engage with their financial lives.”