Open Banking Ecosystems and the Need for a New Connectivity Model – a report from Kapronasia in collaboration with Equinix

The COVID-19 pandemic will be looked back upon in years to come as a key milestone in the digital transformation of financial institutions (FIs), with open banking playing a critical role in that transformation.

This report looks specifically at the emergence of open banking in Asia-Pacific (AP), the different approaches taken by jurisdictions in the region, and how open banking in APAC is different compared to elsewhere. The report looks at the challenges constraining the greater take-up of open banking and argues that while a global prescriptive framework may not be the answer, a universal set of guidelines and recommendations that follows best practices adopted by various jurisdictions around the globe would go a long way to facilitating pan-regional or pan-global open banking for consumers.