Publication: Key Considerations for Open Finance
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2025-01-06
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2025-01-06
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This work aims to provide high-level considerations for financial sector authorities implementing or looking to implement open finance. While design and implementation should consider the circumstances of each market and be tailored to the defined policy objectives, the considerations in this document are intended to be relevant to most open finance initiatives. To that end, this document articulates ten key elements of open finance ecosystem design. It highlights connections between different design and implementation choices and potentially desired outcomes. When applicable, the advantages and disadvantages of alternative options are provided. The considerations are based on emerging good practices and existing standards in related areas. This document focuses on: (i) open finance (instead of open banking or open data); (ii) sector-wide arrangements (instead of individual initiatives) or bilateral arrangements); and (iii) country-level data sharing (instead of cross-border).
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“CGAP; BIS; IMF; UNSGSA; World Bank. 2025. Key Considerations for Open Finance. © World Bank. http://hdl.handle.net/10986/42617 License: CC BY-NC 3.0 IGO.”
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