I was astounded to hear that according to YouGov Custom research, close to three quarters (72%) of UK adults have not heard of ‘open banking’, while just one in three (28%) are aware of it. I then stopped to reflect and realised that I am one of the 28% that is aware open banking, but beyond that know very little  about the mysteries of it. 

I came across a good a guide on the Which website that explains, in non-technical jargon, the FAQs about open banking. Admittedly the article is written for the consumer and does not go into the future ramifications of open banking, but is a good starting point for those just wishing to understand the basics and get their heads around the subject matter. For further information see the link below.