However, initiatives like open banking also create risk – some financial institutions may not adapt to the new environment as quickly as others; and liquidity could become more volatile.
The paperwork, the constraints, the costs – there are good reasons for all these things. After all, the services provided by banks and savings banks are crucial for a stable economic cycle, for growth and prosperity. Banks and savings banks fund investments, they manage savings and deliver important services, such as processing payments. But taking risks is also part of the banking business.