The next stage of fintech development
Posted: Mon Feb 10, 2025 10:29 am
These two examples show that AI is still having a hard time in investment management. At least, as far as publicly available information goes. And in general, platforms that rely entirely on AI, as opposed to algorithmic and arbitrage systems, have not yet become widespread in stock markets.
itWeek : is the introduction of open APIs aimed at australia whatsapp data open ecosystems. "Open banking" means creating technology platforms using application programming interfaces that integrate client data, which makes it possible to speed up financial transactions and manage portfolios. Does this undermine banking secrecy, the confidentiality of client data and change the situation in the financial services sector? Which countries' experience in this area is interesting?
E.Kh.: It should be noted that the implementation of "open banking" in different countries of the world is proceeding at different rates. And this rate can be used to judge, among other things, the strength of the banking lobby in a particular country. The United Kingdom, Mexico, the European Union, Australia, and Brazil have made the most progress in implementing the "open banking" concept. At the same time, its implementation at the legislative level, for example, in the United States and Canada with their powerful banking lobby, has not yet occurred. In the United States, given the complex and fragmented system of banking regulation in this country, the likelihood of legislative registration of "open banking" in the foreseeable future is significantly lower than in other countries.
itWeek : is the introduction of open APIs aimed at australia whatsapp data open ecosystems. "Open banking" means creating technology platforms using application programming interfaces that integrate client data, which makes it possible to speed up financial transactions and manage portfolios. Does this undermine banking secrecy, the confidentiality of client data and change the situation in the financial services sector? Which countries' experience in this area is interesting?
E.Kh.: It should be noted that the implementation of "open banking" in different countries of the world is proceeding at different rates. And this rate can be used to judge, among other things, the strength of the banking lobby in a particular country. The United Kingdom, Mexico, the European Union, Australia, and Brazil have made the most progress in implementing the "open banking" concept. At the same time, its implementation at the legislative level, for example, in the United States and Canada with their powerful banking lobby, has not yet occurred. In the United States, given the complex and fragmented system of banking regulation in this country, the likelihood of legislative registration of "open banking" in the foreseeable future is significantly lower than in other countries.