Analysis
automation-five-areas-impact
Published
Share
Share on facebook
Share on twitter
Share on linkedin
Share on email

Opening up to Open Banking: Banks worldwide

Slowly but surely banks around the world are starting to adopt open banking practices. Naturally, the advent of open APIs in which banks would share data with non bank & non government third parties was met with suspicion and in some cases outright resistance. However, it is clear that consumers are warming to the idea and the movement is gathering momentum. However, as global consumers flock to open banking solutions – the issue of disparities between regulation across borders is becoming clearer. According to this piece, research conducted across the US, UK, Singapore, France, Germany, Hong Kong and the UAE indicated that API adoption was maturing and the call for harmonized regulation is growing. The success of open banking and the many services tied to it that make life easier, more convenient and smarter for billions of consumers worldwide hangs in the balance – with an ever more connected world, our ability to make services seamless not only from a use perspective, but also from a geographical one is the key to real success.

 

Read the full article here

Share this Article
Share on facebook
Share on twitter
Share on linkedin
Share on email
Related Insights
Featured
Amsterdam Fintech Week
Take a look at our yearly fintech festival, Amsterdam FinTech Week. Go on the dedicated website to check out the 2021 wrap up!
AMLD5 Guide
A source for consulting PSD2 legislation coupled with commentary, tips & tricks, applicability, in collaboration with our member law firms.