The rapid pace of open banking adoption has the potential to revolutionise the financial sector in India. Driven by fintech solutions, it emerged an innovative way for consumers to share their banking data with third parties, driving innovation, convenience, and value. However, due to its reliance on information technology, cybersecurity risks are inherent in open […]
Peering Into the Future: Open Banking’s Impact on Customer Experience in 2023
The global Open Banking market, valued at USD 19.14 billion in 2022, is expected to grow at a Compound Annual Growth Rate (CAGR) of 25.9 and touch 48.13 billion in 2026. The growth of Open Banking worldwide and in India, too, can be attributed to the surge in the use of online payment platforms. As […]
How Can Banks Monetise Open Banking Platforms?
COVID-19 led to a disruption in different sectors, and banking is no exception. Nonetheless, with the application of Open Banking in the field, banks have found their way back to stability. The recent waves of digitisation have broadened the scope of significant technological changes in the banking sector. Be that as it may, well-established banks […]