Open Banking

Open Banking

A huge business opportunity, opening up new ways to create value for your customers.

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Open Banking is the sharing of financial data between consumers and financial institutions via open APIs (application programming interfaces).

In preparation for the shift to Open Banking, which has already begun in 2020, these are some critical questions for financial services organisations across Australia to ask.

Moneytree is helping Australian financial organisations such as banks to understand the opportunities and make full use of the business benefits that Open Banking will enable.

With years of experience gained from operating in Japan’s Open Banking environment, as well as being part of the development of the Consumer Data Right in Australia, Moneytree has developed a strategic Open Banking solution for financial services organisations that encompasses three phases.

“What do we need to do to comply with Open Banking requirements?”

“How do we turn Open Banking into an advantage for our business?”

“How can Open Banking fit into our broader strategy?”

Phase 1: Discovery
Identifying the opportunities and challenges of Open Banking in Australia.
Phase 2: Accreditation
Ensuring the organisation achieves accreditation to participate in Open Banking in Australia.
Phase 3: Enrichment
Developing the necessary tools, products and services to maximise the business benefits of Open Banking in Australia.

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Moneytree can help your organisation to realise the tremendous opportunity that Open Banking will bring.

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