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Open Banking Readiness Index

Stay ahead of your innovation and transformation curve.
Hear from Smita Gupta on Finastra’s Open Banking Readiness Index.

Open Banking is pursued differently in the 14 key Asia-Pacific markets. Some follow strong regulator-led Open Banking frameworks similar to those in Europe; others focus on various bank-led initiatives to engage customers better. In these markets, participants offer products and services that are unbundled from the traditional financial services value chain, and work with third parties to bring them to market.

The Finastra Open Banking Readiness Index, powered by IDC, was developed to assess banks in the Asia-Pacific region against five dimensions of Open Banking:

The Finastra Open Banking Readiness Index

Using the index, banks can benchmark themselves against peers and best-practice institutions in the race for truly transformative financial services.

Finastra’s Open Banking Readiness Index helps banks stay ahead of the challenging world of Open Banking by providing:

  • A framework for banks to assess their Open Banking capabilities, which illustrates how many elements need to come together to be ready for Open Banking
  • A snapshot of the Asia-Pacific Open Banking landscape, indicating the impact of regulation and industry-wide cooperation
  • Insights into key areas for improvement, including progressing toward advanced stages of Open Banking Readiness
  • A roadmap and a framework to optimize Open Banking strategies