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Explore how evolving open banking regulations, data rights, and new consumer-centric innovations are reshaping financial services worldwide.

Explore how evolving open banking regulations, data rights, and new consumer-centric innovations are reshaping financial services worldwide.

As financial ecosystems become increasingly interconnected, Open Banking stands at a pivotal crossroads. This session explores how evolving regulation, data ownership frameworks, and consumer expectations are shaping the next phase of Open Banking globally. We will examine the regulatory landscape—from PSD2 and emerging Open Finance rules to jurisdictional divergences—and what these changes mean for banks, fintechs, and policymakers. The discussion will also address data rights: who truly owns financial data, how consent should be managed, and how trust can be strengthened in a data-driven economy. Finally, we will focus on consumer choice, highlighting how Open Banking can move beyond compliance to deliver meaningful innovation, competition, and financial inclusion. Attendees will gain insights into future business models, risks, and opportunities, and leave with a clearer understanding of how Open Banking can empower consumers while maintaining security, transparency, and regulatory integrity.

Open Banking APIs streamline secure data access, reduce friction, and enable faster, approvals with real-time insights.

A small business applies for a working capital loan. Rather than playing the waiting game for statements, income verification, and transaction pattern checks, not to mention running risk models, the business gets approval. No paperwork in sight. No volley of emails back and forth. Behind this seamless experience is a transformative technology that reshapes decision-making, and it is called open banking APIs. Customer expectations demand speed, accuracy, and transparency, which these traditional approval workflows can no longer keep pace with. In other words, there is pressure on financial institutions to make modernizations without compromising compliance. Open banking APIs step in; these are essentially secure data bridges that enable banks, FinTech’s, and third-party providers to access verified financial information. Open Banking APIs are transforming the approvals landscape across financial services by enabling faster, more transparent, and data-driven decision-making. As banks and fintechs embrace secure API-based data sharing, lenders, insurers, and payment providers can access real-time customer financial data with consent, reducing friction in credit, loan, and account approval processes. The charter examines global Open Banking frameworks, key API use cases, and the role of regulatory standards in driving interoperability and trust. It highlights how enriched financial data improves risk assessment, minimizes manual verification, and enhances customer experience while maintaining strong security and compliance. Through industry examples and insights, this charter outlines the strategic impact of Open Banking APIs on approvals, operational efficiency, and innovation within the evolving global fintech ecosystem.