Basel Committee: Report on open banking and application programming interfaces
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The Basel Committee on Banking Supervision (Basel Committee) has published its Report on open banking and application programming interfaces (APIs).
The report monitors the evolving trend of open banking observed in Basel Committee member jurisdictions and the use of APIs.
It discusses the implications of these developments on banks and banking supervision.
According to the Basel Committee, the report builds upon the findings of its Sound Practices paper on “Implications of fintech developments for banks and bank supervisors.”