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News

The Paypers, Innopay release white paper on the global state of play in Open Banking

Monday 4 May 2020 13:30 CET | News

The Paypers and Netherlands-based financial consultancy firm Innopay have released a white paper researching the latest developments in regulatory frameworks in key geographies.


INNOPAY and The Paypers have reviewed legislations, regulatory standards, reports and analyses produced by regulators, industry, bodies and experts involved in Open Banking, to form an understanding of where markets are heading and the key elements of a thriving Open Banking regime. There are eight building blocks we considered pivotal in any Open Banking regime and play a key role for Open Banking to thrive - Initiator, Applicability, Standardisation, Scope of services, Timelines, Commercial model, Security and Accessibility, and Third-party licencing. 

Based on the model of eight building blocks, the white paper highlights key differences per ecosystem and provides insights, findings, and learnings about the key differences in the current Open Banking state of play per region, best practices identified across the different building blocks, and the strategic considerations for regulators, banks, and third parties.

Geographies researched include: Europe, UK, Australia, United States, Mexico, Hong Kong, Singapore, Japan, India, and New Zealand.

 


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Keywords: Open Banking, PSD2, The Paypers, INNOPAY, Open Banking Report 2019, Europe, UK, Australia, United States, Mexico, Hong Kong, Singapore, Japan, India, and New Zealand. Standardisation, regulatory framewrok, third party providers, Hong Kong Monetary Authority, Consumer Data Right, Mexico Fintech Law, Scope of services, open banking commercial model
Categories: Payments & Commerce
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Countries: World
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