Almost 100 countries have adopted or are developing an Open Banking framework
Regulators play a critical role in implementing and supporting appropriate market conditions for Open Banking. Our team has advised regulatory authorities around the globe from developing a framework to designing and testing the technical API standards.
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How we can help
Research and assess the benefits, risks and challenges of implementing Open Banking in your region, in relation to your specific objectives
Benchmark experiences and lessons learned from global Open Banking implementation models
Present and compare the various regulatory options available in Open Banking
Provide guidance and a roadmap to best ensure widespread adoption of your Open Banking framework
Build API standards based on industry best practices and tailored to your local context, leading to your deployment of a branded industry sandbox
Pilot your industry sandbox with market participants to test, future-proof, and launch the first version of your API standards
We got the chance to understand Open Banking through practical exercises. We feel more prepared to develop an Open Banking framework that aligns with the needs of the Dominican people and that can help us transition to a more inclusive and digital financial system.
The Advocate:
the industry provides an API standard offered for voluntary adoption
The Commander:
the regulator provides the legal and security framework as well as the regulatory API standard
The Diplomat:
the regulator provides information and guidelines for banks wanting to voluntarily adopt Open Banking
The Architect:
the regulator provides the legal and security framework for the regime but not the API standard
Models for regulatory intervention
There are 4 major Open Banking regulatory models, each with its pros and cons.
Regulating Open Banking 2023
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