Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Redefining Financial Ecosystems in Asia and the Pacific: A New Era of Open Banking, Open Finance, and Inclusive Growth

Redefining Financial Ecosystems in Asia and the Pacific: A New Era of Open Banking, Open Finance, and Inclusive Growth

Asian Development Bank

Paperback

Business GeneralInvesting & FinanceDatabases

ISBN10: 9292770594
ISBN13: 9789292770594
Publisher: Asian Development Bank
Published: Dec 17 2024
Pages: 60
Weight: 0.46
Height: 0.16 Width: 8.50 Depth: 11.00
Language: English

This publication examines the rapid evolution of innovative open finance frameworks and considers their potential to transform Asia and the Pacific's financial landscape to make it more inclusive, efficient, and equitable.

Building on open banking's secure consumer data exchange, the publication explains how open finance includes services from mortgages to pensions. By using nontraditional credit scoring, it better accommodates underserved businesses and communities who are frequently excluded from the financial mainstream. It underscores the need to develop common standards, strong regulatory frameworks, and robust security practices plus ramp up digital literacy and financial education to ensure open finance realizes its potential.

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