Our Scans · (FS.8.03) Open Banking · Weekly Summary

• [New] The unintended consequence of Open Banking is that everything a bank does today will be democratised and distributed into 1,000 FinTech firms and trusted social and commercial apps from Uber to Starbucks. Chris Skinner's blog
• JPMorgan Chase, the U.S. investment bank, bets metaverse is a $1 trillion per year opportunity as it becomes the first bank to open in Decentraland - one of the world's most popular metaverse platforms. ETCIO.com
• In reality, the open banking approaches will only work after the refinement the software complexes and the third party provider obtain licences from the National Bank of Ukraine. FinExtra
• Laos is stepping up efforts to tackle climate-related food insecurity and open new export opportunities, with USD 68.5 million in support from the Asian Development Bank (ADB) and partners to modernize agriculture in six climate-vulnerable provinces. Laotian Times
• Investigators discovered that Ukrainian refugees have become new targets for recruiters attempting to exploit their vulnerability by forcing them to open bank accounts. Le Monde.fr
• The recent crisis sparked by the closing of Silvergate, Signature and Silicon Valley banks has narrowed opportunities for many U.S. crypto companies, pushing them to open bank accounts offshore. CoinDesk
• Kotak Mahindra Bank will begin inviting limited customers with Android devices to download the digital rupee app and open a digital wallet linked to their bank account soon. / India NFCW
• The progressive vision of The Central Bank of Jordan, has issued instructions governing Open Finance services, aimed to foster innovation and competition and support opportunities for transformation towards an inclusive and advanced digital economy. FinExtra
• For the first time in Iceland, the sleek and intuitively designed Orka Card mobile app will enable open banking connections by integrating customers' bank accounts and supporting its PNFL feature. Fintech Finance
• Fintech firms will no longer need to re - authenticate customers every ninety days for continued access to bank account data, but they will need to prove customer consent, under modifications to Open Banking rules spelled out by the Financial Conduct Authority. FinExtra
• The global payments industry is in transformation, with five key trends driving significant changes from infrastructure investment and the rise of new payment rails to the exploration of central bank digital currencies, the potential of Open Banking, and increased regulatory scrutiny. hollandfintech
• Ministers will crack down on illegal workers already in Britain, with more raids and moves to make it harder to open bank accounts. The Sun
• Brazil's central bank chief Roberto Campos Neto on Friday said he believes credit cards will cease to exist soon due to the growth of the open finance system, through which clients authorize financial data sharing with different institutions. Cyprus Mail
• Verizon and other retailers are creating neobanks that will allow customers to open a bank account, while smaller companies are partnering with payment processors to give their customers mobile payment options. Forbes
• Kenyan open finance infrastructure startup Credrails partnered with Access Bank to develop open finance rails that will dramatically improve the experience of banking customers across Africa. Transport Times
• In 2021, Singapore continued to pursue its ambition to become a world leader in fintech innovation, multiplying initiatives to foster green fintech, explore opportunities related on central bank digital currency (CBDC), and lay the foundation for open finance. Fintech Singapore
• Integrating open banking technology into the American Express application and risk analysis process will allow prospective card members to seamlessly connect to their bank accounts and instantly verify their identity, income and account information with American Express. Finextra Research
• 2018 will be a big year for doing digital properly and becoming an Open Bank. 11:FS
• As the first central bank-regulated open finance platform in the MENA region, we can now create opportunities for process improvement and new value creation for businesses. / Bahrain The Fintech Times
• A unit of South Africa's third-largest bank by assets plans to open a representative office in Dubai in 2026 to benefit from growing trade and investment between the Middle East and Africa. TechDailyPost.co.za | Tech News | Trends | Tech Events
• Malaysia currently has three digital banks that's open to the public and it appears that Boost Bank could be the first to enable contactless mobile payments via Google Pay. SoyaCincau
• With near-final approval in 2024, the SAFE Banking Act could be fully implemented by late 2025, enabling licensed cannabis businesses to open bank accounts, secure loans, and accept digital payments. MyCannabis.com

Last updated: 09 October 2025