1、Open Banking Ecosystems and the Need for a New Connectivity ModelA report from Kapronasia in collaboration with EquinixSeptember 2021ContentsExecutive Summary 2Introduction:The Drivers of Digital Transformation 4The Evolution of Open Banking in Asia-Pacific 6Challenges to Open Banking 11What is Need

2、ed for Open Banking Today?12Conclusions 15Methodology The Open Banking Ecosystems report was based on both primary and secondary research.Primary research included discussions with relevant players across the ecosystem,including associations,Fintechs,and industry experts.Secondary research sources i

3、ncluded but were not limited to market intelligence reports and studies by industry experts and professional services networks,white papers,educational materials,media articles,and marketing collateral.2Open Banking EcosystemsExecutive Summary 1 Charles Green,“How Agile Helps Drive Digital Transform

4、ation Forward,”CMS Wire,https:/ COVID-19 pandemic will be looked back upon in years to come as a key milestone in the digital transformation of financial institutions(FIs).Having become almost a clich,it is nevertheless important to start with the important function that digital transformation is pl

5、aying in the role of open banking.A quick Google search on the definition of digital transformation will turn up millions of search results,but for the purpose of this report,we will define it as“creating a company with technology at its core one that uses the power of todays technologies to create

6、new forms of business and customer value.”1 Beyond just piecing together digital components,technical or otherwise,digital transformation requires a holistic approach to embracing digital that needs to permeate the institution.Historically,the financial services industry(FSI)was characterized by its