{"id":2939,"date":"2022-06-02T12:27:49","date_gmt":"2022-06-02T06:57:49","guid":{"rendered":"http:\/\/641e9b6dc5f49f232f998c4c"},"modified":"2023-07-20T04:51:41","modified_gmt":"2023-07-19T23:21:41","slug":"the-future-of-financial-services-will-run-on-open-rails","status":"publish","type":"post","link":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/","title":{"rendered":"The Future Of Financial Services Will Run On Open Rails"},"content":{"rendered":"2021 was a year of great progress for Open Banking across the EU and UK. The regions witnessed strong growth both in the volume of API calls and the number of third-party providers (TPPs). The sector also got a shot in the arm with the FCA\u2019s removal of the 90-day re-authentication rule and the Competition &amp; Markets Authority (CMA) mandate for Variable Recurring Payments (VRPs).2022 is proving to be the year Open Banking grows in its scope \u2013 geographical and functional. As we looked in our Open Banking report earlier this year, 100+ countries have either introduced or are considering Open Banking regulations. This year, we see significant movement in the US, Australia, India, Brazil, Bahrain, Saudi Arabia, the Philippines, and Nigeria. On the functional side, Open Banking seems to have grown much beyond the banking industry, with Open Finance and Open Data Economies coming into the mix. Open Banking has created an innovation engine for next-generation financial and lifestyle experiences. It is also acting as one of the tailwinds to propel embedded finance experiences that allow non-banks to embed financial products with their core offerings.In this post, we open the door to the many activities unfolding under the umbrella [&hellip;] \t\t<div class=\"woocommerce\">\n\t\t\t<div class=\"woocommerce-info wc-memberships-restriction-message wc-memberships-message wc-memberships-content-restricted-message\">\n\t\t\t\tThis post is only available to members.\t\t    <\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\"><\/span> <span class=\"rt-time\">6<\/span> <span class=\"rt-label rt-postfix\">mins read<\/span><\/span> 2021 was a year of great progress for Open Banking across the EU and UK. The regions witnessed strong growth both in the volume of API calls and the number of third-party providers (TPPs). The sector also got a shot in the arm with the FCA\u2019s removal of the 90-day re-authentication rule and the Competition &amp; Markets Authority (CMA) mandate for Variable Recurring Payments (VRPs).2022 is proving to be the year Open Banking grows in its scope \u2013 geographical and functional. As we looked in our Open Banking report earlier this year, 100+ countries have either introduced or are considering Open Banking regulations. This year, we see significant movement in the US, Australia, India, Brazil, Bahrain, Saudi Arabia, the Philippines, and Nigeria. On the functional side, Open Banking seems to have grown much beyond the banking industry, with Open Finance and Open Data Economies coming into the mix. Open Banking has created an innovation engine for next-generation financial and lifestyle experiences. It is also acting as one of the tailwinds to propel embedded finance experiences that allow non-banks to embed financial products with their core offerings.In this post, we open the door to the many activities unfolding under the umbrella [&hellip;] \t\t<\/p>\n<div class=\"woocommerce\">\n<div class=\"woocommerce-info wc-memberships-restriction-message wc-memberships-message wc-memberships-content-restricted-message\">\n\t\t\t\tThis post is only available to members.\t\t    <\/div>\n<\/p><\/div>\n","protected":false},"author":8,"featured_media":3854,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[88,105],"tags":[119,113,116],"hashtags":[],"class_list":["post-2939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights","category-open-finance","tag-fintech-partnerships","tag-global","tag-roundup","membership-content","access-restricted"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Future Of Financial Services Will Run On Open Rails - WhiteSight<\/title>\n<meta name=\"description\" content=\"Discover open finance&#039;s global impact, empowering individuals and small-medium businesses for growth and financial inclusion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Future Of Financial Services Will Run On Open Rails - WhiteSight\" \/>\n<meta property=\"og:description\" content=\"Discover open finance&#039;s global impact, empowering individuals and small-medium businesses for growth and financial inclusion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/\" \/>\n<meta property=\"og:site_name\" content=\"WhiteSight\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-02T06:57:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-19T23:21:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/03\/The-Future-Of-Financial-Services-Will-Run-On-Open-Rails.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sanjeev Kumar&nbsp;and&nbsp;Kshitija Kaur\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@WhiteSight_\" \/>\n<meta name=\"twitter:site\" content=\"@WhiteSight_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sanjeev Kumar&nbsp;and&nbsp;Kshitija Kaur\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/\"},\"author\":{\"name\":\"Sanjeev Kumar&nbsp;and&nbsp;Kshitija Kaur\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/b60d017fd16c9a8f3949fb111e7a9054\"},\"headline\":\"The Future Of Financial Services Will Run On Open Rails\",\"datePublished\":\"2022-06-02T06:57:49+00:00\",\"dateModified\":\"2023-07-19T23:21:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/\"},\"wordCount\":1456,\"publisher\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/#organization\"},\"keywords\":[\"Fintech Partnerships\",\"Global\",\"Roundup\"],\"articleSection\":[\"Insights\",\"Open Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/\",\"url\":\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/\",\"name\":\"The Future Of Financial Services Will Run On Open Rails - WhiteSight\",\"isPartOf\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/#website\"},\"datePublished\":\"2022-06-02T06:57:49+00:00\",\"dateModified\":\"2023-07-19T23:21:41+00:00\",\"description\":\"Discover open finance's global impact, empowering individuals and small-medium businesses for growth and financial inclusion.\",\"breadcrumb\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/qistaging.com\/whitesight\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Future Of Financial Services Will Run On Open Rails\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/#website\",\"url\":\"https:\/\/qistaging.com\/whitesight\/\",\"name\":\"WhiteSight\",\"description\":\"Fintech Research\",\"publisher\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/qistaging.com\/whitesight\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/#organization\",\"name\":\"WhiteSight\",\"url\":\"https:\/\/qistaging.com\/whitesight\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/logo\/image\/\",\"url\":\"http:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/07\/WS_Logo_-for-White-BG-01.png\",\"contentUrl\":\"http:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/07\/WS_Logo_-for-White-BG-01.png\",\"width\":758,\"height\":495,\"caption\":\"WhiteSight\"},\"image\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/WhiteSight_\",\"https:\/\/www.linkedin.com\/company\/whitesight\/\"]},[{\"@type\":[\"Person\"],\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/b60d017fd16c9a8f3949fb111e7a9054\",\"name\":\"Sanjeev Kumar\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/image\/\",\"inLanguage\":\"en_US\",\"url\":\"https:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/06\/Sanjeev-Kumar.jpg\",\"caption\":\"Sanjeev Kumar\"}},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/b60d017fd16c9a8f3949fb111e7a9054\",\"name\":\"Kshitija Kaur\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/image\/\",\"inLanguage\":\"en_US\",\"url\":\"https:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/03\/Kshitija-Photo.png\",\"caption\":\"Kshitija Kaur\"}}]]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Future Of Financial Services Will Run On Open Rails - WhiteSight","description":"Discover open finance's global impact, empowering individuals and small-medium businesses for growth and financial inclusion.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/","og_locale":"en_US","og_type":"article","og_title":"The Future Of Financial Services Will Run On Open Rails - WhiteSight","og_description":"Discover open finance's global impact, empowering individuals and small-medium businesses for growth and financial inclusion.","og_url":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/","og_site_name":"WhiteSight","article_published_time":"2022-06-02T06:57:49+00:00","article_modified_time":"2023-07-19T23:21:41+00:00","og_image":[{"width":700,"height":1024,"url":"https:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/03\/The-Future-Of-Financial-Services-Will-Run-On-Open-Rails.jpg","type":"image\/jpeg"}],"author":"Sanjeev Kumar&nbsp;and&nbsp;Kshitija Kaur","twitter_card":"summary_large_image","twitter_creator":"@WhiteSight_","twitter_site":"@WhiteSight_","twitter_misc":{"Written by":"Sanjeev Kumar&nbsp;and&nbsp;Kshitija Kaur","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/#article","isPartOf":{"@id":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/"},"author":{"name":"Sanjeev Kumar&nbsp;and&nbsp;Kshitija Kaur","@id":"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/b60d017fd16c9a8f3949fb111e7a9054"},"headline":"The Future Of Financial Services Will Run On Open Rails","datePublished":"2022-06-02T06:57:49+00:00","dateModified":"2023-07-19T23:21:41+00:00","mainEntityOfPage":{"@id":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/"},"wordCount":1456,"publisher":{"@id":"https:\/\/qistaging.com\/whitesight\/#organization"},"keywords":["Fintech Partnerships","Global","Roundup"],"articleSection":["Insights","Open Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/","url":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/","name":"The Future Of Financial Services Will Run On Open Rails - WhiteSight","isPartOf":{"@id":"https:\/\/qistaging.com\/whitesight\/#website"},"datePublished":"2022-06-02T06:57:49+00:00","dateModified":"2023-07-19T23:21:41+00:00","description":"Discover open finance's global impact, empowering individuals and small-medium businesses for growth and financial inclusion.","breadcrumb":{"@id":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/qistaging.com\/whitesight\/the-future-of-financial-services-will-run-on-open-rails\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/qistaging.com\/whitesight\/"},{"@type":"ListItem","position":2,"name":"The Future Of Financial Services Will Run On Open Rails"}]},{"@type":"WebSite","@id":"https:\/\/qistaging.com\/whitesight\/#website","url":"https:\/\/qistaging.com\/whitesight\/","name":"WhiteSight","description":"Fintech Research","publisher":{"@id":"https:\/\/qistaging.com\/whitesight\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/qistaging.com\/whitesight\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/qistaging.com\/whitesight\/#organization","name":"WhiteSight","url":"https:\/\/qistaging.com\/whitesight\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/qistaging.com\/whitesight\/#\/schema\/logo\/image\/","url":"http:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/07\/WS_Logo_-for-White-BG-01.png","contentUrl":"http:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/07\/WS_Logo_-for-White-BG-01.png","width":758,"height":495,"caption":"WhiteSight"},"image":{"@id":"https:\/\/qistaging.com\/whitesight\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/WhiteSight_","https:\/\/www.linkedin.com\/company\/whitesight\/"]},[{"@type":["Person"],"@id":"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/b60d017fd16c9a8f3949fb111e7a9054","name":"Sanjeev Kumar","image":{"@type":"ImageObject","@id":"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/image\/","inLanguage":"en_US","url":"https:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/06\/Sanjeev-Kumar.jpg","caption":"Sanjeev Kumar"}},{"@type":["Person"],"@id":"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/b60d017fd16c9a8f3949fb111e7a9054","name":"Kshitija Kaur","image":{"@type":"ImageObject","@id":"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/image\/","inLanguage":"en_US","url":"https:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/03\/Kshitija-Photo.png","caption":"Kshitija Kaur"}}]]}},"_links":{"self":[{"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/posts\/2939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/comments?post=2939"}],"version-history":[{"count":10,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/posts\/2939\/revisions"}],"predecessor-version":[{"id":7245,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/posts\/2939\/revisions\/7245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/media\/3854"}],"wp:attachment":[{"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/media?parent=2939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/categories?post=2939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/tags?post=2939"},{"taxonomy":"hashtags","embeddable":true,"href":"https:\/\/qistaging.com\/whitesight\/wp-json\/wp\/v2\/hashtags?post=2939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}