New open banking standards will lead traditional banks to transform themselves into cloud-based providers of digital services that meet growing consumer demands. See how new standards will impact different geographies and payment regimes.
- Third-party firms can build financial applications using a bank’s data and infrastructure using APIs
- Businesses, banking and fintech are starting to invest in new technology to handle new forms of payment to keep up with consumer demands
- New regulations are geared towards increasing innovation and collaboration between banks and fintechs so that customers have data security, transparency and choice.