ISO 20022: An In-depth Look at the Global Messaging Standard The payment industry has made remarkable strides, becoming faster, more efficient, and inclusive, all in response to customer preferences. However, it now finds itself at another critical juncture, grappling with intense competition, an influx of new players, and significant technological advancements and regulatory changes. According
The world is on the cusp of an epochal transformation in digital financial services. Open Banking Technology is replete with potential business models as social media were 15 years ago and e-commerce 20 years ago. Open Banking, fuelled by regulatory, technology, and competitive dynamics, brings hyper-relevant data and platform-based distribution networks to the fold of
The Open Platform Banking is set to usher in customer-centric business models and banks’ current product-centric mindset might take a backseat if they don’t act fast. Studies have shown that one in five US consumers find Open Banking valuable with interest much higher among millennials and Gen Z. Allured by the flexibility and transparency, they