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It looks to me as if that is how Fintech has decided it can disrupt traditional banking.
Is it legit though? Or is it just hype?
Is it legit though? Or is it just hype?
"Open Banking" Hype or The Future?
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OfTheCross
Veteran
If it's what I think it is it's the future, imo.
w/o clicking play, since I'm at work, I believe it's pretty much like Open Source banking. So like Android where anyone can develop a system over it.
The only thing that will slow it down will be the red tape in creating your own bank...the technological aspect is going to take off
w/o clicking play, since I'm at work, I believe it's pretty much like Open Source banking. So like Android where anyone can develop a system over it.
The only thing that will slow it down will be the red tape in creating your own bank...the technological aspect is going to take off
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The traditional banks (and new players) can act as repositories while the various banking services and app operate on them.
You can imagine something like this not done right could ignite the mother of all bubbles, as imbalances are created by funds shifting from low to higher performing areas where risk has been under-assessed.