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ARTICLE · 06 JULY 2019

Open banking around the world: A global comparative guide

Open banking fosters competition and innovation within the financial services industry - a better banking experience.

AustraliaFinance and Banking

A global comparative guide

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Dear Tara,

The UK continues to be the global pioneer in open banking through the implementation of the EU PSD2 and the CMA open banking initiative. However, through regulatory reforms and/or market-led initiatives, many jurisdictions are now catching up.

The aim of open banking is to foster competition and innovation within the financial services industry, resulting in a better banking experience for customers, and it has the potential to transform the global banking landscape.

Working with our colleagues across the globe, we have produced a comparative guide to open banking as part of our NRF Institute, to help our clients understand how open banking is being treated in key jurisdictions and the different approaches to implementation.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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