Rethinking Financial Landscape With Open Banking 2021 Global Trends

Rethinking Financial Landscape with Open Banking – 2021 Global Trends

"Open banking", a few of them heard off, but the financial sector is the most critical topic that is hard to ignore. As open banking is becoming a common word among BFSI clients, it has also become essential to understand its power to change the legacy banking system radically.

Service providers will use "Open banking" to share up a humongous database for zillion more opportunities which will shape the future of the financial world.

The utility of open banking is evolving quickly, thus enhancing customer experience, increasing financial inclusion, and empowering users with more significant data control.

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  • Table of Contents:

    • Introduction to open banking
    • Capitalizing on the benefits of open banking
    • Benefits of open banking
    • 3 Reasons why open banking is the future of the banking industry
    • 5 Proven use cases to look for in 2021
  • Summary:

    “Open banking is reshaping the future of the banking world” – With technological advancement, we are moving towards the period of open APIs where third party service providers are going to fetch data from the legacy institutions to provide improved customer experience. Check out for 5 new trends…

  • Key Highlights:

    • 24% are deploying open banking in personal finance management
    • 3% have deployed open banking in smart customer onboarding
    • 9% have leverage open banking for boosting sales
    • 27% has minimized fraud-thefts

Trusted by

Forbes
Business Insider
The Economic Times
Business Standard
Gulf Today
India Today
Business Today
BW Business World
The Week

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