Open Banking: The Time is Now
- Kushlani De Silva
- Product Marketing Manager, WSO2 Open Banking - WSO2
Image credits: Tom Swinnen from Pexels
Open banking has been growing at an exponential rate. What was previously considered a regulatory nightmare is now being perceived as the digital transformation opportunity of a lifetime for financial services. While some banks still have apprehensions about open banking, most have already put forward an open banking proposal to their senior leadership. Come 2020, we can expect to see a lot more adoption of open APIs in financial services, whether or not a regulation prompts it.
Here are some interesting facts around why banks across the world need an open banking strategy today.
If you're looking out for resources to help you get started on open banking or you just want guidance on how to make the most of an existing open banking strategy, check out our open banking knowledge hub.