Consumer Demand for Digital Services: With 59% of consumers preferring mobile banking in 2023, there is a clear shift towards digital financial solutions that offer convenience, speed, and efficiency

Integration with Neobanks: The rise of neobanks in Austria, projected to reach a transaction value of €13.22 billion by the end of 2024, reflects a broader acceptance of digital-first banking solutions that leverage open banking principles

Enhanced Financial Control: Open banking allows consumers to regain control over their financial data. They can choose which third-party providers (TPPs) access their information, leading to personalized financial services and products tailored to individual needs