All tracked banks, account providers and third-party providers active in India. By taking advantage of technology like API's (application programming interface) banks can offer users an easy way to access all of their financial information.

Apr 19, 2021 · In contrast to the Open Banking initiatives witnessed in some countries, India has embraced an approach where both the Regulator and the market have collaborated for the development of the Open Banking space.

We examine how the development of the digital infrastructure known as the “India Stack”— including an interoperable payments system, a universal digital ID, and other features—is delivering on the government’s objective to expand the provision of financial services.

Dec 10, 2021 · The Indian Open Banking ecosystem continues to thrive with active support from the government as well as the market. With the launch of Account Aggregators, API readiness of banks & NBFCs, entry of multiple neobanks, intense funding, India has become a role model for Open Banking Deployments globally.

Nov 27, 2020 · Pioneered by BFSI players like Yes Bank, Kotak bank, DCB bank, etc., the Open Banking ecosystem has now grown to include NBFC and other tech players who have created partnerships within the system. Open Banking has now become a part of the Indian financial services and fintech segment.

Jul 25, 2023 · Discover how Open Banking is transforming the financial landscape in India. Learn about its benefits and future potential with insights from Plural.

Feb 12, 2021 · However, Banking sector has realized the need for digitization, and seamless open banking infrastructure is the key to achieve it. This report highlights some of India’s significant Open Banking initiatives that lay grounds for more to come in 2021. The Account Aggregator concept has been in the market for a couple of years now.

This article delves into the potential for Indian banks to adopt the Open Banking strategy, exploring its benefits, challenges, and a roadmap for successful implementation.