Fintech Insider Podcast by 11:FS cover image

877. News: Nala raises $40M to expand, and does Australian open banking need to go back to the drawing board?

Fintech Insider Podcast by 11:FS

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Challenges and Slow Progress of Open Banking Implementation

The chapter explores the challenges and slow pace of open banking implementation in Australia and globally, emphasizing the need to go beyond data aggregation. It discusses the complexity of the system, consumer consent issues, and the importance of delivering personalized recommendations for better customer outcomes. Additionally, it touches on leveraging open banking to improve service efficiency and the potential for companies to enhance offerings through bilateral agreements in the FinTech market.

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