Article: What’s next for Open Banking?

Money, Open Governance

What’s next for Open Banking?

Appetite for “Open Banking”, where consumers allow third-party providers to use the financial information held by their bank to inform new products, is growing; Progress in the sector differs by region, but demand for and use of Open Banking services has been further expedited by the COVID-19 pandemic;

To make Open Banking successful and sustainable, however, more banks need to embrace an end-to-end digital architecture. In recent years, technology has facilitated a progressive opening up of the banking industry. It has ushered in an era of collaboration not just competition between incumbent banks and fintech.

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Article: Is Canada falling behind global peers with open banking?

Money, Open Governance, Open Source

Is Canada falling behind global peers with open banking?

There is a risk that it will says financial services industry group as it publishes an open banking manifesto. Several countries have already gone some way along the route to open banking but is Canada at risk of falling behind its global peers?

The benefits of adopting open banking has been laid out in a new publication from the non-profit Open Banking Initiative Canada (OBIC) which brings together thought leaders from finance, technology, and regulation in partnership with CIO Strategy Council and others.

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