Fintech & Innovation

Open Finance
Innovation through API standards: Part 1

How can we leverage open finance for superior customer experiences?
This course embodies the transition towards a more inclusive, competitive, and consumer-centric financial landscape & aims to equip learners with the knowledge to lead within open finance.
The number of open banking API calls is forecast to grow from 102 billion in 2023 to 580 billion in 2027. 
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Online Course


30 mins

Video duration




On Completion

Badge of completion

With this online course, you will:
  • Understand the global regulatory landscape for open finance and its implications.
  • Utilise open finance APIs for developing financial services.
  • Strategise the adoption and implementation of open finance in existing financial ecosystems.
  • Design new financial products and services leveraging open finance.
  • Maintain data privacy and security within the open finance framework.


API Integration

Strategic Planning


Data Privacy and Security

Course Lessons

Open Finance as a driver for inclusive and competitive finance 

The first chapter of the course on Open Finance serves as an introduction to the transformative potential of open finance as a driver for inclusive and competitive financial services. It elaborates on the fundamental shift from traditional financial services, where banks and insurance companies directly expose their services to consumers, to an open finance ecosystem characterised by standardised APIs. These APIs enable third-party providers (TPPs), including fintechs, regtechs, and telcos, to create innovative apps and solutions, thereby offering consumers more choice and better services.

The global movements of market – regulatory driven initiatives

Chapter 2 addresses the global movement towards open finance, highlighting regulatory and market-driven initiatives worldwide. It explores the distinctions between open banking and open finance, emphasizing the broader scope of open finance that includes not just payment services but a wider array of financial products like loans, investments, and insurance. This chapter showcases how different regions, including the European Union, Brazil, Australia, and China, are navigating the transition from open banking to open finance, each adopting unique approaches based on their regulatory environments and market conditions.

Meet your instructor - Hakan Eroglu

Advisor – Open Finance, Payments, and Digital Currencies at the Bank for International Settlements (BIS) Innovation Hub

Business Transformation Leader with a strong technical background (ex- Mastercard, ex-Accenture, ex-Infosys) – leading large teams, Payments Expert, Public Speaker, Thought Leader, Trusted Advisor to C-suite in Open Ecosystems (Open Banking, Finance and Data) and Digital Payments (A2A/RTP, QR, card, CBDC, crypto currency systems)

More than 14 years of experiences in technology implementation, solution architecture design, product management and strategy design and execution in complex international and multi-stakeholder environments (central banks, fintechs, banks, associations).