The Next Stage of Open Banking: Creating Value
summary
Open banking is becoming commoditized as aggregators give away access and per-transaction prices fall from around $1 to under $0.20 per transaction, so value shifts to data refinement: KYC/account verification, income and asset verification, fraud detection and credit decisions. Real deployments process 80–90k applications monthly (about 4–8 million transactions/month) using up to 15 months of history (~7,000 actions per primary account) and require about 95% accuracy in categorization; screen scraping still yields richer fields because many APIs don’t follow specs.
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chapters (13)
- 0:00Intro
- 1:38Where is Open Banking
- 2:37Consolidation in Open Banking
- 3:35Data commoditization
- 4:12Daters
- 5:05KYC
- 7:48Categorisation
- 11:11Income Verification
- 14:07Credit Management
- 16:51Fraud Detection
- 20:18Elephant in the Room
- 25:45The Future
- 27:00Questions
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