Open Banking, Open Source, and Open Standards

Explore the concept of Open Banking through a regulatory and policy lens in this 31-minute talk by Kevin Morris from the Large Credit Union Coalition. Gain insights into the technical standards pursued by different jurisdictions, focusing on the variations in API messaging standards. Discover how Open Banking concepts align with Open Source collaboration and learn about the shift in regulatory policy towards transparency and input. Compare and contrast Open Source and Open Standards, understanding their profound differences and implications for organizational responses. Delve into topics such as data portability, business models, consumer data standards, and strategic considerations for implementing open banking tools. Understand the differences between government-regulated and open banking, and explore the potential benefits of a unified Open Banking API standard.