With open banking, banks will be able to increase revenues, attract new customers, open themselves up to new collaborations, and stand out from the competition
The banking sector has been impacted in its earnings due to the global pandemic. Coupled with increased competition from financial technology companies who are increasingly expanding products and financial services to banking customers in ways traditional banks are not able to due to regulations.
This has made the adoption of open banking a very important strategy for banks to venture in and leverage their potentials in this new normal as the future of banking and payments post-pandemic has to be open for the sector to survive and compete. To ensure they will be disruptors rather than disrupted, banks must act now.
To discuss this and more, the Open Banking MENA Digi-Conference will bring together on January 25th senior decision-makers from central banks, leading banking and financial institutions in the MENA region. They are going to discuss the potentials of Open Banking in the region’s financial services market as well as the opportunities it creates for the banking industry in the MENA region.