Open Finance Evolution: A Conversation with Berlin Group

📣📣 🎯 Open Finance Evolution: A Conversation with Berlin Group 🇺🇦🇺🇦 #standwithUkraine In a recent edition of 'Everything Fintech' — a video series by the European Third Party Providers Association (ETPPA) — Wijnand Machielse from Berlin Group had an enlightening conversation with host Michael Salmony 🎙️. Their discussion revolved around the transformative journey of Open Banking and Open Finance in Europe, and how harmonised API standards are revolutionising the payments and data services landscape 🚀. The discussion highlighted Berlin Group's pivotal role in standardising APIs, emphasising its significance for interoperability, scalability and market competitiveness 🏦. The conversation navigated through the challenges and importance of aligning front and backends, underscoring the importance of standardised API platforms and illustrating the need for collaboration over competition in standards development 🤝. The robust foundation and massive market investments in PSD2 Open Banking are primed to drive further innovation in Open Finance as well. Banks, TPPs, wallets and other API Access Clients plan to utilise and leverage the PSD2 infrastructural investments for Open Finance and Open Data, thereby repurposing bank frontend-to-backend investments for a range of scheme services implementations across all possible channels (POS, eCom, In-App and P2P). The Berlin Group openFinance API Framework accommodates all prevailing private and public schemes, payment methods 🔄💳 and channels. Coupled with the recently adopted instant payments regulation in Europe, this highly efficient, scalable and widely adopted machinery is set to facilitate the expected surge in volumes. 📈 For Open Finance and Open Data, Europe has quite a unique opportunity to benefit from what has already been delivered and invested in PSD2-based Open Banking. 🌍 🚀 Berlin Group is grateful for the opportunity to engage with ETPPA and Michael Salmony in such a productive dialogue and being able to talk all things Open Banking, Open Finance, the importance and impact of harmonised standards and much more! 🙏 Don't miss out on this insightful discussion! Check out the full video here: https://lnkd.in/dCnxqs4M 🎥. The future is open. The future is interoperable. And Berlin Group is leading the way, together with such wonderful partners as ETPPA!💡 #OpenBanking #OpenFinance #Fintech #APIs #ETPPA #BerlinGroup #InnovationInFinance