1.1 What is Open Banking, History and Evolution

COURSE: Open Banking: Revolutionizing the Financial Ecosystem

About the Course

The FAME Project offers a comprehensive and accessible online course designed to introduce you to the world of Open Banking which is transforming how consumers and businesses interact with financial institutions. Understanding the concept of Open Banking is crucial as it redefines traditional banking practices into a more interconnected and customer-centric model.

The course begins with an exploration of the history and evolution of Open Banking and then dives into the various benefits that it brings, such as increased competition, enhanced financial services, and improved customer experiences. It also examines the challenges that must be managed, including data security and privacy concerns.

Regulations and compliance requirements are vital components of Open Banking, ensuring the legal standards and protection of consumer rights are met. The course covers the critical areas of regulations and compliance requirements needed to ensure the legal standards and protection of consumer rights. As technology advances, the future of Open Banking presents exciting opportunities. The course explores emerging technologies and global adoption trends that are poised to revolutionize the industry.

By the end of this course, you will have a good understanding of Open Banking, its regulatory landscape, and future trends, preparing you to leverage these insights for strategic advantages in the financial sector. This asynchronous English-language course consists of the following parts:

1. Introduction to Open Banking
1.1 What is Open Banking, History and Evolution
1.2 Benefits and Challenges of Open Banking

2. Open Banking Regulations
2.1 Overview of Open Banking Regulations
2.2 Key Regulatory Frameworks
2.3 Compliance and Data Privacy

3. Open APIs and Data Sharing
3.1 Understanding Open APIs
3.2 API Economy and Data Sharing
3.3 Security and Authentication in Open Banking

4. Open Banking Ecosystem
4.1 Parties Involved: Banks, FinTechs, and Third-Party Providers
4.2 Use Cases and Innovation in Open Banking
4.3 API Marketplaces and Partner Integration

5. Future of Open Banking
5.1 Emerging Technologies and Trends
5.2 Implications and Opportunities

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Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or Horizon Europe. Neither the European Union nor the granting authority can be held responsible for them.

The FAME project has received funding from the European Union’s Horizon 2023 Research and Innovation Programe under grant agreement nª 101092639.