Open banking, a financial services model where banks share customer data with third-party providers through apis (application programming interfaces), is increasingly being recognized as a catalyst for financial inclusion. This model has the potential to bridge the gap between traditional banking services and underserved or unbanked populations. This article explores how open banking can enhance financial inclusion, providing access to financial services for those who have traditionally been excluded. Expanding access to financial services Bringing unbanked populations into the financial system A significant portion of the global population remains unbanked. The world bank’s global findex database reports that about 1.7 billion adults…
Thursday, July 23