a good thing!
The Future is Already Here
Around the world, Open Banking is making waves in digital business. The financial services industry is becoming increasingly decentralized, and fintechs are fighting for market share from large players who were previously untouchable. The industry is experimenting with open APIs to deliver more personalized products and services to customers. Governments are getting involved but to different extents. If you’d like to see the effects Open Banking initiatives are having, we’ve outlined some of the most important global developments.
Consumer Data Right (CDR)
Open Banking is the first phase of industry-specific APIs mandated by the Australian government. The law specifies how information is shared between data holders (companies) and data recipients (consumers) to create more competitive and personalized offerings. Learn how identity intelligence can be the engine for your CDR needs.
PSD2 & UK Open Banking
The European Union ushered in the era of Open Banking with the creation of PSD2. The UK’s Open Banking Standard followed with more detailed requirements. Learn how Ping Identity’s open standards approach and advanced integration capabilities can help your enterprise tackle the challenges of Open Banking.
USA & Other Regions
Even in countries where Open Banking regulations are not present, financial services enterprises are exploring ways to innovate via open APIs. By doing so, they can increase revenues and improve customer experiences by launching new products and services. Learn how Ping Identity manages and secures APIs at scale.