https://techcrunch.com/2020/01/27/teller/

“They’re idiots, they’re really naive,” is how Stevie Graham, the co-founder of fintech Teller, once described Open Banking Limited, the body charged with delivering open banking in the U.K.

His view back in 2017 — which now looks somewhat prophetic — was that open banking wouldn’t be the competition driver it was hyped up to be, mainly because incumbent banks were incapable of change and would act in a malevolent way to stop fintechs from walking through the front door and stealing their lunch.