In recent years open banking has become associated with the digitization and transformation of the financial services sector. New regulations have been one of the major drivers, starting in Europe before quickly spreading around the world.
Open Banking has the potential to accelerate the quality, competition, and distribution of financial services for both individuals and business. On the heels of milestone acquisitions by Mastercard and Visa of Finicity and Plaid respectively, fintechs are hurrying to build financial data rails across African FIs and beyond.
Which regulatory frameworks are enjoying the most success? What are the unique challenges in establishing financial data connectivity on the continent? Who will be the next Plaid of Africa? Find out by registering for the CLA’s Global Open Banking panel on October 15, 2020.
Below is a look at the current state of open banking around the world:
Also, next month our Founder & CEO Hamed Arbabi will be joining Microsoft and Payments Canada to discuss the current state of open banking in Canada and what the future holds. Register now for the panel discussion and learn more about our open banking payments solution which allows you to accept instant bank account verified payments, improve funding speed and reduce NSFs with sufficient account balance visibility.