The Future of Open Banking: Key Trends & Challenges
summary
Claims that open banking growth post‑pandemic forces banks to expose customer data via APIs while increasing fraud, outages and regulatory risk; recommended controls include a formal API governance framework, contractual SLAs for uptime and response, and measurable KRIs such as API error rate and transactions per day. Practical defenses are encryption in transit, multi-factor authentication or biometrics, penetration testing, BCM/DR and API management platforms (gateways, analytics, monitoring). Future work emphasizes AI/ML for real‑time threat detection and compliance automation.
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chapters (8)
- 0:00Intro
- 0:48Financial Industry Transformations
- 4:19Open Banking Explained
- 9:35Open Banking Risks and Challenges
- 12:40Managing APIs and Open Banking
- 13:17Key Actions to Take
- 19:06Essential Tools and Resources
- 23:28Future Expectations in Open Banking
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