Hot Topic: Demystifying Open Banking

With Open Banking regulations coming into force in jurisdictions around the world, including last week in Australia, it’s important that Australian bankers understand what it means for them. Is it really going to challenge incumbents the way some say, and make certain business models obsolete? What do people mean when they refer to the ‘API economy’, PSD2 and GDPR? And what are ‘RESTful APIs’ anyway? Most importantly, why should such things matter for bankers who don’t work in payments or technology and perhaps find the language of Open Banking inaccessible and intimidating?

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