Open finance is a concept and practice within the financial services industry that involves the secure sharing of financial data with third-party service providers through Application Programming Interfaces (APIs). Building upon the principles of open banking, which focuses primarily on banking data, open finance aims to give consumers and businesses greater control over their financial data, enabling them to access a wider range of financial products and services.
Open finance is a concept and practice within the financial services industry that involves the secure sharing of financial data with third-party service providers through Application Programming Interfaces (APIs). Building upon the principles of open banking, which focuses primarily on banking data, open finance aims to give consumers and businesses greater control over their financial data, enabling them to access a wider range of financial products and services.
Source: Wikipedia "Open finance" · CC BY-SA 4.0
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