After being proposed in 2016, open banking has arrived. But is the financial services shake-up exactly what startups need or is it too drastic? Hearing the words ‘open’ and ‘banking’ side-by-side will sound like an oxymoron for many entrepreneurs. In their search for finance, just how many of them have had banks slam their doors rather than welcoming them with open arms? Luckily, this began to change with the rise of challenger banks designed to meet the needs of startups and consumers that large traditional institutions couldn’t or wouldn’t.