Certification in Open Banking April 2022

Timings:9.30 AM – 5 PM IST

It is anticipated in the next 5 years that more than 30% of new customer acquisition & revenue generation for Banks will be contributed by Open Banking Initiatives. Open banking will also reduce operations costs and sales costs by nearly 70% during this period. 90% of bankers Accenture surveyed believe open banking will boost Organic growth by 10%. We are witnessing movements across the globe driven by Open Banking with not only banks taking various measures but governments also contributing to support initiatives to intensify progress on Open Banking.

Open banking is a digital initiative, which encompasses the opening of banking & financial services and data through APIs for consumption by third parties. Open banking is revolutionizing Financial services and taking banking beyond banks. In this ecosystem, banks (as well as wealth firms, insurance firms, NBFCs, etc) will have to learn to collaborate with external players through the Open Banking Framework.