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Open banking ecosystems and the need for a new connectivity model whitepaper

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This report from Kapronasia, in collaboration with Equinix, expands on the emergence of open banking in Asia-Pacific, the different approaches taken by jurisdictions in the region, and how open banking in APAC is different compared to elsewhere.

The report looks at the challenges constraining the greater take-up of open banking and argues that while a global prescriptive framework may not be the answer, a universal set of guidelines and recommendations that follows best practices adopted by various jurisdictions around the globe would go a long way to facilitating pan-regional or pan-global open banking for consumers.

Highlights

  • The emergence of open banking in Asia-Pacific
  • The different approaches towards open banking taken by jurisdictions across Asia Pacific
  • The challenges constraining the greater take-up of open banking
By creating digital-first products and services, new Fintech entrants are giving incumbents a run for their money by offering better, cheaper, faster products and services directly to customers through digital channels.
Open Banking Ecosystems and the Need for a New Connectivity Model, September 2021