Photo by cottonbro studio: https://www.pexels.com/photo/person-shopping-online-3944405/
The press release we are sharing is about the development of open banking impacting consumer and public trust. It was explained that open banking is "enabling consumer-permissioned sharing of financial data with third parties to empower consumers, foster competition, and expand financial inclusion."
Open banking as well promises greater innovation, efficiency, and competition. There is the reliance that many will utilize open banking to a great extent on a richer and more complex financial ecosystem. The press release also discusses the data's importance and the relationship between banking and commerce.
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