A fundamental shift is happening in the world of money. A global movement called open banking is driving banks to compete and innovate in ways they never have before. At its core, open banking is about giving people more control and choice over how they use their money and their financial data. Here we tell the story of open banking, a story that is still being written all around the world.
Open banking is about banks sharing financial information, with each other and with third-parties, in a simple, secure and transparent way. By defining clear standards for how financial data is shared, open banking puts consumers back in control of their financial data to help them better understand and manage their money, across as many providers as they need. It enables people to securely share and use their information so they have better visibility on budgeting, investing, and financial planning. Open banking enables broad integration across the entire financial ecosystem, ultimately leading to new and innovative banking products which are faster, cheaper, and more adaptable to our rapidly changing world.
Mr. Open Banking is made possible thanks to our partner Raidiam, whose technology enables the most trusted data sharing ecosystems in the world. Raidiam has been active in the open banking community since its inception and their choice to support Mr. Open Banking is consistent with their role as thought leaders, trusted advisers and singular technology providers throughout the industry worldwide.
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