- May 31, 2018
- PSD2
- Open Banking, PSD2
Singapore beats Hong Kong in open banking readiness
Strong regulatory support from MAS buoyed the lion city to score the APAC crown.
Singapore easily beat Hong Kong and Australia in its readiness for open banking, according to a report by the International Data Corporation.
The report assesses a country’s readiness for open banking based on five factors including support of the regulatory environment, level of adoption of partner and external APIs, state of digital transformation in banks, level of security preparedness of banks, and supporting fintech/third-party (TPP) ecosystem.