Key Findings
- 1How forward-thinking banks are turning open banking mandates into strategic opportunities rather than regulatory burdens.
Overview
Open banking regulation is spreading globally. The UK led with PSD2, Australia followed with CDR, and South Africa is developing its own framework. Most banks are treating this as a compliance exercise. The smart ones are treating it as a strategic opportunity.
"Most banks are treating this as a compliance exercise."
57% of Sub-Saharan African adults remain unbanked — representing the world's largest financial inclusion opportunity.
Mobile-first fintech platforms are uniquely positioned to capture this 350M+ person market.
The Compliance Mindset
The compliance approach is straightforward: build the minimum required APIs, meet the regulatory timeline, and hope that customer data sharing remains low. This is the dominant strategy among incumbent banks.
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