The State of Open Finance (Q3 2024)
November 5, 2024
The State of Open Finance (Q3 2024)
Q3 2024 was a defining quarter for open finance, with sweeping changes that accelerated its evolution on a global scale. The latest advancements in payments, personal finance, lending, and regulatory standards reveal a clear momentum towards more integrated, real-time, and data-driven financial services. WhiteSight’s latest report captures the many developments of the quarter that underscore how open finance is breaking down barriers across sectors—from empowering consumer financial management to reshaping credit access for underserved groups.
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Description
The report provides an in-depth look at the latest innovations, regulatory trends, and industry strategies that are driving open finance forward, reshaping the landscape with transparency, security, and user-centric solutions at its core.
What’s Inside the Report?
- Open Banking-Powered Payments: Explore how A2A payment solutions are transforming eCommerce, tax, and utility payments. With Pix, UPI, and other new rails, open banking is bypassing card networks, offering instant, secure payments for both businesses and consumers.
- Enhanced Financial Wellness: See how open finance is advancing financial health with tools for data aggregation and personal finance management, enabling users to consolidate accounts, track spending, and improve cash flow in real-time for proactive budgeting.
- Open Finance-Powered Credit Decisioning: Learn how open finance and real-time data are improving credit assessments through cash flow underwriting, affordability insights, and personalized lending, promoting inclusion and better risk assessment
- SMB and Consumer Identity Solutions: Discover how open finance aids small businesses with cash flow forecasting and cross-border payments, and improves identity verification and fraud prevention with secure account validation and payroll integrations.
- Regulatory and Investment Trends: Track the latest regulatory frameworks supporting open finance across major regions, from regulatory sandboxes to open banking licences, fostering responsible innovation.
Download our Q3 2024 Open Finance Report today to equip yourself with in-depth insights into the future of financial connectivity and access!
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