Issue link: https://recursos.axway.com/i/1321495
40 Open Banking APIs State of the Market Report 2020 Regulation has been a key driver for the creation of open banking systems globally. However, it has not been an essential component in all jurisdictions. Much of the progress in the United States, for example, is due to banks and fintech themselves partnering because they recognize the commercial opportunities of open banking. In the U.S, large commercial banks are leading the way with open APIs. Commercial banks are more familiar with working in partnerships with businesses and corporations, so it was not a mindset leap for them to leverage APIs to drive value creation in those partnership networks. With industry standardization partners like the Financial Data Exchange, banks and fintech have been able to come together successfully and use common API standards to build new products and services. \ Interoperability, security, technology integration \ Consumer choice and market enhancement \ Citizen rights including data portability and financial inclusion. OPEN BANKING REGULATIONS IN 2020 ISRAEL ALL OF EUROPE MEXICO CANADA US AUSTRALIA SOUTH KOREA JAPAN CHINA NEW ZEALAND UK INDONESIA INDIA BRAZIL COLOMBIA EGYPT RWANDA KENYA BAHRAIN NIGERIA HONG KONG STATE OF OPEN BANKING REGULATIONS AROUND THE GLOBE In progress/implemented Planned, consultation under way Stalled METHODOLOGY: Platformable reviews progress and activities of all open banking regulations around the globe and assesses whether current actions are being implemented, under review or in consultation made, or are stalled.