DIGITAL BANKING
What lessons from open banking implementation should inform the development of open finance?
Erick Watson, CEO, Randamu The biggest lesson is that data access alone isn’ t enough. What matters is coordination, context, and consent. Open banking should be viewed as the beginning of a larger movement toward user-sovereign data exchange.
As we move into open finance and even cross-sectoral models like open health or open energy, we need to build systems where policy logic is separate from infrastructure and where rules are verifiable and portable. Shared standards and dynamic governance layers can enable this at scale, without compromising on control or security.
Krishna Subramanyan, CEO, Bruc Bond Infrastructure integrity is nonnegotiable. As we move toward open finance expanding into pensions, insurance, or ESG data sharing, success hinges on deeply integrated, compliant platforms.
Ad‐hoc API implementations won’ t scale. What is needed is a foundation of interoperable, compliant, and transparent systems that support longterm scalability and fairness.
Open banking’ s future lies in unified, scalable platforms with embedded compliance, operational intelligence and AI-powered insights.
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