The Open Banking Movement
Open Banking is redefining the landscape of financial services by changing the way that products and services are consumed. It has also opened the door for new entrants like fintechs to challenge the power traditionally held by large financial enterprises. Open Banking as a concept befuddles many because of the various regulations that have emerged in different countries. However, Open Banking goes well beyond regulatory environments. It’s applicable globally even where there isn’t a government mandate in place.