Why banks need an Open Banking quarterback: Compliance, coordination, and competitive edge

The financial services landscape is undergoing a seismic shift. While some predicted regulatory compliance as being a major driver for modernization and the need for financial institutions to act on the opening-up of their data and services, recent political developments have caused confusion and downright turmoil.

Yet, business decisions can remain focused on the key challenge: How to remain ahead of the curve and stay healthy and competitive in a fast-changing digital financial landscape?

In 2025, financial institutions are increasingly focused on personalized customer experiences, integrating AI and automation, digital currencies, and sustainable finance practices. There’s also a growing emphasis on cybersecurity.

Notice how these concerns and objective areas cut across many areas of business planning and operations. Strategy is important, and an Open Banking / Open Finance strategy with API connectivity at its core can be a game-changer.

Why? Connectivity is the enabler – APIs to package and simplify the technical integration effort on one end, and new and improved business connections on the other end.

Who in an organization can help coordinate all these strategic efforts and prevent wasted time and money on siloed and disjointed effort?

Enter the Open Banking quarterback.

Read the rest of this article on the Axway Blog.

Catch Brian Otten, vice president, digital transformation catalysts, North America at Axway on stage at Open Banking Expo USA on June 26 in NYC in a Fireside Chat ‘Continuous Open Banking revolution’ at 4.20pm.

Speak to Axway on Stand 1 in the Exhibition Hall at Open Banking Expo USA – find out more here.