Journal of
Italian
Banking
Association

year 100
 

Archive » March 2023 » Open Finance: towards a wider ecosystem for financial innovation

Open Finance: towards a wider ecosystem for financial innovation

Liliana Fratini Passi
March 2023 - n. 3
Keywords: Open Finance, banche, innovazione finanziaria
Jel codes: G21, G28, O30, M14

In the Financial Services industry, technological acceleration has provided new tools for product and service development. New «open» business models have emerged, based on the sharing of customer data and the interoperability of an open and competitive ecosystem. In this context, Open Finance – a natural extension of Open Banking with a wider sharing of financial data between market players – represents an extraordinary opportunity for consumers and businesses to access an offer tailored to their needs. The article analyzes this new paradigm by presenting the results of the Global Open Finance Report and the state of adoption of Open Banking and Open Finance initiatives at a global level, to then focus on the main trends in the European and Italian markets.

Interested in this paper?
Buy the issue