Tag: open finance

Open banking and open finance are buzzwords in the financial sector that have been sparking curiosity. They are frameworks that allow authorised third-party providers (companies or services that offer financial products/services to consumers) to access financial data from banks and other institutions via secure application programming interfaces (APIs).

The Intergovernmental Fintech Working Group (IFWG) has published a new blog on Open Finance, noting that South African regulatory authorities have started looking at open finance as it relates to their respective mandates.