Open banking is the latest buzz term echoing throughout the global finance sector. A seismic shift in banking, the change is driven by regulatory changes, evolving consumer preferences and technology-enabled innovation.
The first country to take a consumer-centric approach to data, the United Kingdom established themselves as early leaders of open data in 2010 with the Freedom of Information Act.
Since then, the UK has set the standard for the most established open banking framework, however similar regulation in Australia is imminent.
Having only recently embarked on the open API transition, Australia has been looking to the UK for guidance.
We’ve compared the state of play in both countries below:
Taking you beyond compliance to unpack how you can harness the opportunities Open Banking presents, the 2nd Open Banking Summit will provide you with what you need to create cutting-edge customer experiences and be ready for February 2020.
Running from 22 – 24 October 2019 in Sydney, this event will provide strategies to prepare for the API economy, strengthen partnerships and improve customer awareness.