Open banking is a data-sharing scheme that allows third-party service providers to access consumer banking data through open application programming interfaces (APIs). Of its many benefits, direct improvements to customer satisfaction and digital agility, resulting in increased customer value is foremost. In addition, open banking opens new doors for competition and collaboration, and allows banks and fintech businesses to develop innovative financial...
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2021/10/04
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Report
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168414
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1
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2021/10/05
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Disclosed
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Overview of Open Banking in Korea
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Citation
Youjin Choi.
Overview of Open Banking in Korea (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099345001292217326