First introduced in the European Union in 2018, Open Banking regulations have shaken up the financial services industry.
Through open APIs, Open Banking grants third parties access to customer financial data, with permission, and has created opportunities for financial services organisations to develop new products.
This has allowed for allowing for greater innovation in how consumers manage their finances, prompting less tech-savvy organisations to adapt to new ways of working or risk being left behind.
However, Open Banking has received mixed responses from those in the financial services industry. While some organisations have embraced Open Banking and the opportunities it can create, others have taken a more cautious approach, focusing purely on compliance rather than transformation projects. As a result, progress has at times been slow. But almost four years after regulations were brought in, what impact has Open Banking had, and how will it develop in the years to come?
The following webinar, supported by bespoke research, will determine the state of play for Open Banking: what solutions are organisations developing, what vendors are they using, and what challenges have they faced in both complying with regulations and harnessing the opportunities they can created.
Panellists will discuss the attitudes of consumers towards Open Banking and also what financial institutions, both incumbent and challenger, have gained from the technology, and what they hope to gain moving forward.
Finally, it will look beyond compliance and ask what the future of Open Banking might hold, delving into how organisations are optimising and re-evaluating their Open Banking plans, and what this means for Open Finance and Open Economy.