As the financial industry becomes more digitally connected, debt management functions have to keep up with the pace of technology. Since its appearance four years ago, Open Banking has been making a whirlwind of changes in the financial industry.
Accelerated by the rapid growth of application programming interfaces (APIs) and new regulation (PSD2), Open Banking transforms the credit industry into an open model enabling financial and non-financial institutions to work together and provide increasingly innovative services.
For businesses that manage debt, Open Banking seems to be one of the most promising technologies. The availability of data and Analytics will enable organisations to offer customers innovative and seamless experiences that are better tailored to customers' needs.
Wondering how you can navigate your way to an open and digital future?
Our latest special report has all the answers for you.
Download and explore:
- What is Open Banking, and how does it work?
- How Open Banking integrates with collections processes and systems?
- What are the adoption challenges, and which are the key consumer concerns?
- Which are the key use cases of Open Banking in collections?
- How can Open Banking improve your collections efforts?
- What is coming next regarding implementation in the debt collection industry?