{"id":68573,"date":"2023-03-03T13:06:05","date_gmt":"2023-03-03T07:36:05","guid":{"rendered":"https:\/\/www.the-next-tech.com\/?post_type=web-story&#038;p=68573"},"modified":"2023-03-03T13:06:10","modified_gmt":"2023-03-03T07:36:10","slug":"open-banking-a-new-era-of-financial-transparency-and-innovation","status":"publish","type":"web-story","link":"https:\/\/www.the-next-tech.com\/web-stories\/open-banking-a-new-era-of-financial-transparency-and-innovation\/","title":{"rendered":"Open Banking: A New Era of Financial Transparency and Innovation"},"content":{"rendered":"<p><html amp=\"\" lang=\"en\"><head><meta charSet=\"utf-8\"\/><meta name=\"viewport\" content=\"width=device-width,minimum-scale=1,initial-scale=1\"\/><script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0.js\"><\/script><script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0\/amp-story-1.0.js\" custom-element=\"amp-story\"><\/script><link 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poster-portrait-src=\"https:\/\/s3.amazonaws.com\/static.the-next-tech.com\/wp-content\/uploads\/2023\/03\/03125730\/Cover-Image-176.jpg\"><amp-story-page id=\"6d37e5d0-ba4b-4810-beac-80ba2ae3de49\" auto-advance-after=\"7s\"><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#eaf3fa\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-fd9ebc3a-4930-4934-b32e-c333742dd578\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-8.49515%;top:50%;width:120.38835%;height:53.55987%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-2056c0a0-0b9c-435f-8d30-437fa0384d2b\">\n<div style=\"position:absolute;width:100.16849%;height:100%;left:-0.08424%;top:0%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/img.freepik.com\/free-vector\/people-with-smartphones-using-mobile-banking-app_74855-5917.jpg?w=740&amp;t=st=1677827691~exp=1677828291~hmac=a96450d9b2f01836a3eb39e96ffa134f8ed6358386010896ec63afa08662eac2\" alt=\"people-with-smartphones-using-mobile-banking-app_74855-5917.jpg\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:11.40777%;top:12.62136%;width:76.45631%;height:22.00647%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6349206349206349% 0.6349206349206349% 0.6349206349206349% 0.6349206349206349% \/ 1.4705882352941175% 1.4705882352941175% 1.4705882352941175% 1.4705882352941175%\" id=\"el-9d696947-5c1a-4fce-a019-c5ed1a298485\">\n<h2 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.2533333333333328% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.453074em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Open_Banking_A_New_Era_of_Financial_Transparency_and_Innovation\"><\/span><span><span style=\"font-weight: 700; color: #ea8f42\">Open Banking: A New Era of Financial Transparency and Innovation<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"b121d4ae-e4c3-429f-9f92-2541bcbec11f\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-83c04b61-4e71-4f02-90b5-33a89e9fc4d0\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-e0b7913a-825e-40e8-87f7-92d097359d5d\",\"keyframes\":{\"transform\":[\"translate3d(-115.70512%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#d8ddcc\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-3376f146-1b1f-4780-b004-fac4150ede6d\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:11.8932%;top:28.31715%;width:75.72816%;height:43.20388%;opacity:1\">\n<div id=\"anim-83c04b61-4e71-4f02-90b5-33a89e9fc4d0\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-e0b7913a-825e-40e8-87f7-92d097359d5d\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(-115.70512%, 0px, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.641025641025641% 0.641025641025641% 0.641025641025641% 0.641025641025641% \/ 0.7490636704119851% 0.7490636704119851% 0.7490636704119851% 0.7490636704119851%\" id=\"el-63d48e15-6820-49b1-be57-1e97d032d0cd\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.2009615384615381% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.355987em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Open_banking_is_a_system_where_banks_and_other_financial_institutions_open_up_their_APIs_application_programming_interfaces_to_third-party_developers_allowing_them_to_access_financial_data_and_develop_new_applications_and_services\"><\/span><span><span style=\"font-weight: 700; color: #a4133c\">Open banking is a system where banks and other financial institutions open up their APIs (application programming interfaces) to third-party developers, allowing them to access financial data and develop new applications and services.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"dde86f1d-3e47-42e0-b668-ee4352a2d583\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-89e2a7d2-22e3-4185-8f6e-c0d594fcfde1\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-8f42dfc7-8d0b-4ab8-b4e4-09468ea1074c\",\"keyframes\":{\"transform\":[\"translate3d(0px, -270.79176%, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#8bb4c0\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-b789c798-e8b6-44d3-89f1-91627f150dfb\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:11.8932%;top:36.8932%;width:76.45631%;height:27.02265%;opacity:1\">\n<div id=\"anim-89e2a7d2-22e3-4185-8f6e-c0d594fcfde1\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-8f42dfc7-8d0b-4ab8-b4e4-09468ea1074c\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, -270.79176%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6349206349206349% 0.6349206349206349% 0.6349206349206349% 0.6349206349206349% \/ 1.1976047904191618% 1.1976047904191618% 1.1976047904191618% 1.1976047904191618%\" id=\"el-7be3f3c6-71c1-49fa-8fab-4f244e57e1f9\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.20809523809523808% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.372168em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Open_banking_encourages_competition_among_financial_service_providers_which_benefits_consumers_by_driving_down_costs_and_improving_service_quality\"><\/span><span><span style=\"font-weight: 700; color: #a4133c\">Open banking encourages competition among financial service providers, which benefits consumers by driving down costs and improving service quality.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"6564029c-1844-4eb4-a31f-d962d361fb5d\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-38742944-7379-4833-85b1-f5a4cadccb01\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-8eb190d3-9c38-4f4d-bae8-77f18c6bf342\",\"keyframes\":{\"transform\":[\"translate3d(0px, 233.11111%, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#ffece3\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-a9a97a50-cf98-4787-8240-b64e2cd1e9f7\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:11.8932%;top:33.81877%;width:76.45631%;height:32.36246%;opacity:1\">\n<div id=\"anim-38742944-7379-4833-85b1-f5a4cadccb01\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-8eb190d3-9c38-4f4d-bae8-77f18c6bf342\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, 233.11111%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" id=\"el-37bd2121-b792-463b-bf68-61f2d5037801\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.9790476190476189% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.388350em;line-height:1;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #ff3101\">Open banking has the potential to foster innovation in the financial services industry by enabling the development of new products and services that leverage financial data.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"e22cbb68-ebf2-4233-bb1f-307eb3fb1c0b\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-0089032c-b571-4f90-82cf-53b1d60fe88b\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":100,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-45e1935b-af5a-4f5e-a285-84fe42cdd7f7\",\"keyframes\":{\"transform\":[\"translate3d(117.64707%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":100,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#1f2a2e\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-b7023f02-9d5c-4ead-a1bb-d9eb7f13f59b\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:12.62136%;top:29.77346%;width:74.27184%;height:40.29126%;opacity:1\">\n<div id=\"anim-0089032c-b571-4f90-82cf-53b1d60fe88b\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-45e1935b-af5a-4f5e-a285-84fe42cdd7f7\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(117.64707%, 0px, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" id=\"el-ae51cc20-a8e0-4847-8f1a-2f21beca01c5\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.16862745098039272% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.388350em;line-height:1.3;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"_Open_banking_focuses_on_the_needs_of_the_customer_giving_them_greater_control_over_their_financial_data_and_the_ability_to_share_it_with_other_institutions_or_services_as_they_see_fit\"><\/span><span><span style=\"font-weight: 700; color: #fbebba\">&nbsp;Open banking focuses on the needs of the customer, giving them greater control over their financial data and the ability to share it with other institutions or services as they see fit.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"d7f5790f-772b-4371-90fc-38069d0e8bb0\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-fc3fa265-7dd3-4afa-8c18-41fa1ca8e36e\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":400,\"duration\":2000,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#bcebee\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-1c088395-274e-4cb4-bc98-9116a11a1f17\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:11.40777%;top:31.39159%;width:76.45631%;height:37.37864%;opacity:1\">\n<div id=\"anim-fc3fa265-7dd3-4afa-8c18-41fa1ca8e36e\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0% 0% 0% 0% \/ 0% 0% 0% 0%\" id=\"el-486db15d-9e7e-4d9a-a87a-943e2c78d410\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.544761904761904% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.388350em;line-height:1.4;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #800f2f\">With access to a customer&#8217;s financial data, banks and other providers can offer personalized services that meet the specific needs of each individual.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"3adc32e9-2619-4d13-abbc-99e969d349ea\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-6342e398-c480-439e-a1e6-543ed219445c\",\"keyframes\":[{\"transform\":\"scale(1)\",\"offset\":0},{\"transform\":\"scale(1.5)\",\"offset\":0.33},{\"transform\":\"scale(0.95)\",\"offset\":0.66},{\"transform\":\"scale(1)\",\"offset\":1}],\"delay\":0,\"duration\":1450,\"easing\":\"ease-in-out\",\"fill\":\"both\",\"iterations\":1}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#2d2a35\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-a5186a87-ae62-47fc-a972-b3286411e959\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:11.8932%;top:32.68608%;width:75.72816%;height:35.11327%;opacity:1\">\n<div id=\"anim-6342e398-c480-439e-a1e6-543ed219445c\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(1)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0% 0% 0% 0% \/ 0% 0% 0% 0%\" id=\"el-8d40b427-282b-409c-aa3c-83c2820ec1e7\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.16538461538461596% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.388350em;line-height:1.3;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"The_implementation_of_open_banking_requires_compliance_with_various_regulations_such_as_GDPR_and_PSD2_which_can_be_challenging_for_financial_institutions\"><\/span><span><span style=\"font-weight: 700; color: #bcebee\">The implementation of open banking requires compliance with various regulations such as GDPR and PSD2, which can be challenging for financial institutions.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"8c4ead1b-adca-49fa-9421-56dffa684389\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-9bf11968-809a-47b4-95a3-c4dabc6b5768\",\"keyframes\":{\"transform\":[\"translate3d(-116.98718%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-3e4d6183-417e-4662-b3cc-bd6d485d3879\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-8af0bca3-7d83-418e-8b82-97f07ff30115\",\"keyframes\":{\"transform\":[\"scale(0.15)\",\"scale(1)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"forwards\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#d4e3fc\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-6bb33f49-a272-45cd-b616-9653b109b1b2\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:12.86408%;top:34.30421%;width:75.72816%;height:31.22977%;opacity:1\">\n<div id=\"anim-9bf11968-809a-47b4-95a3-c4dabc6b5768\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(-116.98718%, 0px, 0)\">\n<div id=\"anim-3e4d6183-417e-4662-b3cc-bd6d485d3879\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-8af0bca3-7d83-418e-8b82-97f07ff30115\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(0.15)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0% 0% 0% 0% \/ 0% 0% 0% 0%\" id=\"el-8c01eb11-f442-4e18-a4a9-75e0109758d6\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.44999999999999996% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.388350em;line-height:1.14;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Implementing_open_banking_requires_a_significant_investment_in_technology_and_infrastructure_which_can_be_a_barrier_for_smaller_financial_institutions\"><\/span><span><span style=\"font-weight: 700; color: #215fce\">Implementing open banking requires a significant investment in technology and infrastructure, which can be a barrier for smaller financial institutions.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"8426ee2f-c58b-452c-8076-598eb2e99ba2\" auto-advance-after=\"7s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-fbdaecfc-a86b-40af-bda4-77a9617e59e4\",\"keyframes\":{\"transform\":[\"translate3d(114.87342%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-2baed1cb-e935-4a29-b37d-0e42eb20043f\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-af4fe530-9fdc-4c9f-a639-3423a27af727\",\"keyframes\":{\"transform\":[\"scale(0.15)\",\"scale(1)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"forwards\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#122036\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-15b6cd3b-b2d6-4270-9dce-bc25e1ba04a8\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-45.02427%;top:-10.35599%;width:190.04854%;height:120.71197%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-61c1614b-c81f-45d4-8b28-4075e3201ee6\">\n<div style=\"position:absolute;width:119.15391%;height:119%;left:-8.30096%;top:-7.26786%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/wp.stories.google\/static\/19\/images\/templates\/album-releases\/sticker_sound.png\" alt=\"sticker_sound\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:11.8932%;top:34.62783%;width:76.69903%;height:30.74434%;opacity:1\">\n<div id=\"anim-fbdaecfc-a86b-40af-bda4-77a9617e59e4\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(114.87342%, 0px, 0)\">\n<div id=\"anim-2baed1cb-e935-4a29-b37d-0e42eb20043f\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-af4fe530-9fdc-4c9f-a639-3423a27af727\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(0.15)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6329113924050633% 0.6329113924050633% 0.6329113924050633% 0.6329113924050633% \/ 1.0526315789473684% 1.0526315789473684% 1.0526315789473684% 1.0526315789473684%\" id=\"el-da5cff20-491e-4a1a-b606-a8acb2d638b8\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:1.4121835443037971% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.404531em;line-height:0.9;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #fee2c6\">&nbsp;Integrating open banking with legacy systems can be challenging for financial institutions, which may have to invest in new technology or upgrade existing systems.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><\/amp-story><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Open banking is a global trend, with many countries adopting open banking regulations to encourage innovation and competition in the financial services industry.<\/p>\n","protected":false},"author":152,"featured_media":68574,"template":"","meta":{"web_stories_publisher_logo":59216,"web_stories_poster":[],"web_stories_products":[],"footnotes":""},"web_story_category":[],"web_story_tag":[20517,20518,20520,20524,19462,20443,20522,20514,20516,20521,20515,17555,19918,17012,20512,19789,20525,18728,20523,20519],"class_list":["post-68573","web-story","type-web-story","status-publish","has-post-thumbnail","hentry"],"story_data":{"version":46,"pages":[{"elements":[{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":true,"x":1,"y":1,"width":1,"height":1,"mask":{"type":"rectangle"},"isBackground":true,"isDefaultBackground":true,"type":"shape","id":"fd9ebc3a-4930-4934-b32e-c333742dd578"},{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":false,"scale":100,"focalX":50,"focalY":50,"resource":{"type":"image","mimeType":"image\/jpeg","width":740,"height":493,"sizes":[],"isPlaceholder":false,"isExternal":true,"needsProxy":true,"src":"https:\/\/img.freepik.com\/free-vector\/people-with-smartphones-using-mobile-banking-app_74855-5917.jpg?w=740&t=st=1677827691~exp=1677828291~hmac=a96450d9b2f01836a3eb39e96ffa134f8ed6358386010896ec63afa08662eac2","id":"4267a06b-9633-4852-af37-7abb47aec263","alt":"people-with-smartphones-using-mobile-banking-app_74855-5917.jpg","baseColor":"#e7eff8"},"type":"image","x":-35,"y":309,"width":496,"height":331,"mask":{"type":"rectangle","showInLibrary":true,"name":"Rectangle","path":"M 0,0 1,0 1,1 0,1 0,0 Z","ratio":1,"supportsBorder":true},"id":"2056c0a0-0b9c-435f-8d30-437fa0384d2b"},{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":true,"backgroundTextMode":"NONE","font":{"family":"Merriweather","fallbacks":["serif"],"weights":[300,400,700,900],"styles":["italic","regular"],"variants":[[0,300],[1,300],[0,400],[1,400],[0,700],[1,700],[0,900],[1,900]],"service":"fonts.google.com","metrics":{"upm":1000,"asc":984,"des":-273,"tAsc":984,"tDes":-273,"tLGap":0,"wAsc":1065,"wDes":273,"xH":555,"capH":743,"yMin":-272,"yMax":1055,"hAsc":984,"hDes":-273,"lGap":0}},"fontSize":28,"backgroundColor":{"color":{"r":196,"g":196,"b":196}},"lineHeight":1.2,"textAlign":"center","padding":{"locked":true,"hasHiddenPadding":false,"horizontal":0,"vertical":0},"type":"text","content":"<span style=\"font-weight: 700; color: #ea8f42\">Open Banking: A New Era of Financial Transparency and Innovation<\/span>","borderRadius":{"locked":true,"topLeft":2,"topRight":2,"bottomRight":2,"bottomLeft":2},"x":47,"y":78,"width":315,"height":136,"id":"9d696947-5c1a-4fce-a019-c5ed1a298485"}],"backgroundColor":{"color":{"r":234,"g":243,"b":250}},"type":"page","id":"6d37e5d0-ba4b-4810-beac-80ba2ae3de49"},{"elements":[{"x":1,"y":1,"width":1,"height":1,"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":true,"mask":{"type":"rectangle"},"isBackground":true,"type":"shape","id":"3376f146-1b1f-4780-b004-fac4150ede6d","isDefaultBackground":true,"basedOn":"f20aa1b3-6e99-4b87-9088-8fafd8d1f2b0"},{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":true,"backgroundTextMode":"NONE","font":{"family":"Merriweather","fallbacks":["serif"],"weights":[300,400,700,900],"styles":["italic","regular"],"variants":[[0,300],[1,300],[0,400],[1,400],[0,700],[1,700],[0,900],[1,900]],"service":"fonts.google.com","metrics":{"upm":1000,"asc":984,"des":-273,"tAsc":984,"tDes":-273,"tLGap":0,"wAsc":1065,"wDes":273,"xH":555,"capH":743,"yMin":-272,"yMax":1055,"hAsc":984,"hDes":-273,"lGap":0}},"fontSize":22,"backgroundColor":{"color":{"r":196,"g":196,"b":196}},"lineHeight":1.2,"textAlign":"center","padding":{"locked":true,"hasHiddenPadding":false,"horizontal":0,"vertical":0},"type":"text","content":"<span style=\"font-weight: 700; color: #a4133c\">Open banking is a system where banks and other financial institutions open up their APIs (application programming interfaces) to third-party developers, allowing them to access financial data and develop new applications and 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