Open banking adoption: evidence from small business in Australia

This thesis examines Australian small business use of Open Banking. Our aim is to identify barriers to Open Banking adoption and propose ways to overcome them. Open Banking awareness, company operations, desire to utilise, and experience were surveyed from small enterprises. Performance, peer adoption, and regulatory measures affect Open Banking adoption. Privacy, financial, and regulation concerns slowed adoption. The study highlights the importance of owner characteristics, firm characteristics, and expectations in driving the adoption of Open Banking. The results provide insights that can guide policymakers and financial institutions in promoting the adoption of Open Banking among small businesses in Australia.