Open Banking: institutions

Open banking is defined as the “sharing of customers’ permissioned information held by banks with so-called ‘third-party’ developers, who can use them to build applications and services comprising payments, synthetic information for account holders, and other marketing and cross-selling opportunities” (BIS, 2019). Many authorities are planning to take actions to regulate Open Banking in their jurisdictions. The regulatory framework in the European Union. The British regulatory framework. Regulatory framework in other jurisdictions