Imran’s vision for Open Finance, encouraging ‘premium’ APIs, and whether Open Banking is actually working.
After years of promises, regulatory back and forth, and campaigning by both supporters and critics, Open Banking is today used by millions of people and businesses to manage their finances—most of whom have never even heard of ‘Open Banking’.
It really shows that if you give people the tools to safely and securely look after their data, or take control of their data, then that’s what they’re going to do.
Imran Gulamhuseinwala tells Altfi that the latest 2m milestone from the OBIE indicates adoption is currently doubling every six months, and he remains “blown away” at the huge ecosystem of 300+ authorised entities, from Fintechs to challenger banks to alternative lenders, who are building on Open Banking APIs.
Read, subscribe and share
This blog is from the latest edition of my newsletter “Payments, Payments, Payments”, read, subscribe and share at: