Author: Nadiva Aliyya Aryaputri

In this current era of digitalization and personalization, the concept of Open Banking has been rapidly disclosed among experts, and perhaps consumers. The term itself refers to a business model where data can be exchanged in order to be used for various inquiries inside the financial ecosystem. According to fintecsystems, the starting point of Open Banking goes a long way back to the 1980s when online banking services were made available through dialing. In 2018, Open Banking legal framework was established within the EU’s Payment Services Directive 2 (PSD2). This regulation allows the creation of APIs that enables third-party providers…