How can the industry ensure that open banking delivers on its promise of financial inclusion while maintaining robust security and privacy standards?
Erick Watson, CEO, Randamu Financial inclusion and privacy are often seen as a trade-off, but they don’ t have to be. The industry must adopt security architectures that are inherently usercentric. For example, zero-knowledge proofs and threshold cryptography can allow users to verify income or spending patterns without exposing raw data.
Regulators should also mandate interoperability across financial institutions, so users aren’ t locked out because of where they bank. Inclusion means control and that starts with providing users with granular, portable access to their own financial footprint.
Krishna Subramanyan, CEO, Bruc Bond Financial inclusion must be built into the architecture, not added afterwards. When platforms are designed with transparency, embedded compliance, and privacy by default, it becomes possible to extend trusted financial services to SMEs and underserved populations, without compromising security. Inclusion and trust go together, and both require deep infrastructure commitment.
100 August 2025