In our next episode in the SamvAAd 2024 series, we dive deep into the evolving world of Open Finance with Kiran Gopinath, the founder of Open Finance Connect. Open Finance is reshaping financial services globally by enabling consumers to control and share their financial data for better products and services and India and the AA ecosystem is at the forefront of it.
Here are the key highlights:
💡 What is Open Finance?: Open Finance empowers consumers to share financial data across industries, allowing for better customer experiences and access to services beyond banking.
🌍 Global Leaders in Open Finance: India, Brazil, and the US lead the way in Open Finance adoption. Kiran discusses the unique approaches of each country and how they impact the global ecosystem.
🥇 India’s Open Finance Success: India stands out globally, not only for its robust open banking infrastructure, powered by initiatives like UPI and AA, but also for its push toward financial inclusion for its vast population.
🔮 Looking Ahead to 2030: Kiran predicts the expansion of Open Finance into sectors like travel and entertainment, with exciting possibilities such as credit portability.
Tune in to learn how Open Finance is transforming financial services and how AA can play key role in powering the next billion Open Finance users
Timeline
00:00 Start
00:45 Introduction
01:15 About Kiran
05:05 Defining Open Finance
08:49 Highlights of Global Open Finance Adoption Report (GoFar)
12:52 Comparing India with the globe
18:47 Approaches to Open Finance
22:51 Challenges in Open Finance rollout
27:56 Crystal ball gazing into 2030